Director - Asset Management Retail

Job description / Role

Director - Asset Management Retail, Qatar
Global Property Development Firm
Competitive Expatriate Salary Package + Benefits + Global Role

Our client is a government owned property development firm with global property development interests worldwide. They now wish to recruit a Director Asset Management - Retail for national and international projects to lead and manage the retail assets across various markets which include the footprint of the firm’s asset management portfolio. This role will be responsible for managing the Retail asset portfolio (both globally and in country) of our clients assets and involves overseeing effective relations with strategic business partners. The incumbent is accountable for undertaking strategic planning, maximizing profitability, reporting performance at an asset and at the portfolio level, and play a key role in new acquisition of assets. Our client is a Real Estate & Property Development international firm that are developing a landmark futuristic mega City development in Doha, Qatar as well as other projects of residential and hospitality nature globally.

The key project is a city that extends across 38 square kilometers and includes four exclusive islands and 19 multi-purpose residential, mixed use, entertainment and commercial districts. This is a comprehensive arena of leisure spots, residential buildings, commercial towers, avenues and public ports. This city will accommodate 200,000 residents and 170,000 employees and 80,000 visitors. The role will focus on Strategic Retail Asset Planning, Acquisition and Capital Structuring, Partnership Development, Contract Management, Yield Maximization, Performance Monitoring and Workflow Management.

Reporting to the Senior Director – Asset Management; this role is responsible for the following:
- Formulate strategic business plan(s) and budgets for all Retail asset classes (newly acquired and existing) spread across multiple markets with guidance from the Senior Director – Asset Management.
- Stay abreast the market conditions and provide inputs to the firm’s management on market drivers, economic trends, new value enhancing opportunities and investments to venture in the Retail asset portfolio – both global and nationally.
- Support the Investment committee as the subject matter expert for Retail asset related capital planning, investment initiatives, due diligence, and matters alike.
- Review, analyze, and update management on all key matters requiring Retail asset creation and disposal approvals. Handle all queries posed by management on asset management operations and performance in different markets.
- Assist in the development of policies, processes, procedures and guidelines for the asset management function, in line with business plans; and ensure compliance thereof.
- Perform Retail asset performance reviews and implement viable and appropriate asset management strategies required to achieve the forecasted project returns, and scope for revenue enhancement and cost reduction.
- Develop acquisition transaction pipeline in line with the portfolio strategy; source, negotiate, and close transactions across various retail assets.
- Interface with Development team on acquisition of Retail assets; provide feedback on the feasibility reports and develop pre-leasing plans.
- Manage the due diligence and audit activities and performance of all assets, including review of financial, legal, commercial, valuation, operational reports, and feasibility reviews; ensure completion of all activities within approved timeframe, budget, and resources; present research reports for management approval.
- Liaise with the external consultants for their expertise in services related to legal, tax, and valuations.
- Lead in the origination and negotiation of recapitalization, debt refinancing, restructuring, and asset disposition.
- Monitor the execution, delivery, and operational turnover of all Retail assets spread across various regions.
- Execute and manage the risk rating system for the Retail asset portfolio to mitigate the potential risk exposure of the firm (Legal, financial, transaction related etc.).
- Liaison on matters pertaining to lease-up analysis, property and facilities management agreements.
- Work with management in the transition of Retail assets to the leasing, PM & FM functions.
- Liaise with the firm’s Development team or the JV partner on account of strategic capital and property improvement (design and development) plans, including design modifications, space plans, cost estimation etc.
- Enter into agreements with the development partners for the Retail asset portfolio and ensure that contracts are regularly reviewed and negotiated. Ensure service level contractual agreements are adhered to by the partners, through development of appropriate process or procedural flows.
- Support the development partner and internal functions in formulating an integrated marketing strategy for marketing and sales of Retail properties, targeting corporates and brand aggregators; alongside developing branding and advertisement content for media release and public relations.
- Research, identify, evaluate, and adopt efficient tax structures to enhance revenues.
- Prepare, maintain, manage cash flow, and investor returns models for the Retail assets; provide annual projections to the finance team with respect to capital calls.
- Establish models for tracking the financial and operational KPIs of the Retail asset portfolio.
- Prepare annual capital budgets and operating budgets, forecasts, monthly reports, and variance reports, analyze monthly financial results of each assigned portfolio property and report financial variances to management, including development projects.
- Monitor and ensure completion of periodic tax filings, in liaison with the Tax function, as per the regulatory requirements of the State (as applicable) and submit reports to Head Office on net earnings.
- Evaluate and analyze existing workflows to derive business opportunities, strategic enhancements and workflow streamlining.
- Represent the firm’s Retail Asset Management function at all external platforms and projects as well as professional/ industry forums.

Requirements

- Bachelors and/or Master’s degree in real estate, business administration, finance, accounting, commerce, economics, engineering or any other relevant stream. Any other relevant professional certifications will be an added advantage.
- 10+ years of experience in real estate asset management and investment analytical role with minimum of 4 years in a senior management position.
- Previous asset management experience in the Retail asset class.
- Previous experience in property accounting and financial analysis involving urban large scale properties.
- Advanced working knowledge of MS office applications.
- Experience working in the MENA region is highly desirable.
- Strong leadership and communication skills with highly advanced negotiation capabilities.

A competitive salary package will be offered to attract exceptional candidates to this growth organization.

About the Company

1Recruit International LLC is an international global recruitment and human resource solutions consultancy with a global mind set and a proven track record in talent management. Resourcing across an array of executive business sectors, our corporate mission entails client satisfaction through quality orientation; a consultative approach, delivery excellence and innovation through 'best fit candidates technically, behaviourally and culturally.