Job description / Role
To maximize the long-term profit on all owned, developed assets while delivering quality service to the brand standard.
• Responsible for the profit-and-loss performance on all owned, developed assets.
• Play a key supporting role in the review, development, and implementation of RAKP’s strategy.
• Leads the development and updating of the Asset Management Department's yearly strategic plan and budget.
• Create / manage financial models for the entirety of the RAKP investment portfolio to analyze yields and NAV to present to the CEO.
• Manage the Property management arm of the company in administering and serving the company’s community projects including customer service.
• Managing the leasing of company’s retail, marina, residential and office stock.
• Managing the company’s hotel assets through management of the hotel operators.
• Propose positive NPV investments that improve the yield/return of company owned assets and create other value-added initiatives to improve NOI.
• Reviews the performance of company assets and proposed new assets to propose appropriate portfolio and recommend new assets as well as asset exits.
• Relationship management with REITs, funds and other investors in built assets.
• Provides input to development planning during the conceptual phase of a development.
• Coordinates with the Director of Development during the lifetime of the project and at handover stage for a smooth transition.
• Brings the required level of leadership to ensure a well-functioning organization.
• Works as a constructive member of the team reporting to the CEO.
• Coordinates analysis and improvement recommendations for financial optimization of properties with the Development Department and aligns with Director of Development for analysis / business planning (e.g. input provision).
• Reviews and presents recommendations on operational optimization of company assets.
• Reviews the condition of existing properties and recommends possible upgrades.
• Oversees and guides the interaction between Property Management, Facility Management and Leasing in order to ensure state-of-the-art management and operations of properties.
• Reviews and analyzes the results of surveys administered to existing tenants.
• Ensures the effective day-to-day management of RAKP’s tenants.
• Tracks Property Management KPIs and devises plans and initiatives for improvement.
• Contributes to strategic planning and decision-making in order to develop and implement a leasing strategy and plans that align with the company’s overall vision and its current and long-term business objectives.
• Reviews and recommends rent and lease levels for approval as per DOA.
• Coordinates requirements with Marketing Department in relation to the annual marketing and communications plans.
• Coordinates with Marketing Department for the writing of copy for marketing and promotional material, advertisements, and other related material, including the corporate website as required and related to Asset Management Department.
• Reviews RAKP's standardized leasing contract documents and coordinates accordingly with Legal Department.
• Tracks Leasing KPIs and devises plans and initiatives for improvement.
• Bachelor's degree in Engineering or Business Administration (MBA or equivalent is preferred).
• At least 15 years of work experience of which 5-7 years must be in a position assuming similar responsibilities with a leading organization in real estate/property industry in UAE/GCC.
• Must have asset management experience with hotel properties or hospitality sector as well.
Skill Set Required:
• Knowledge of asset management and property management.
• Knowledge of leasing.
• Ability to select, develop & motivate necessary management talent to maintain company's overall objectives.
• Global Purchasing / Contract Negotiations.
• Management Excellence.
• Excellent interpersonal and communication skills.
• General Real Estate knowledge.
• Strong interpersonal skills such as leadership, communication, persuasion, motivation, loyalty, and openness.
About the Company
RAK Properties is one of the leading property development and tourism infrastructure firms in the UAE.
With proven excellence in a wide range of projects including mixed-use community developments, strategically placed retail shops, health spas and hotels, RAK Properties Public Joint Stock Company (PJSC) plays a central role in shaping the lifestyle of residents of the United Arab Emirates.
Founded in 2005 from the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties delivers high-quality and professionally managed projects that provides its customers with the highest level of service, while maximizing the value of their investments.
RAK Properties has sound capital of AED 2 Billion. The Initial Public Offering (IPO) of RAK Properties in early 2005 was over subscribed by almost 57 times. In its mission to lead the development of real estate and tourism infrastructure in Ras Al Khaimah. RAK Properties aims to attract foreign investors of repute to launch state of the art projects, including luxurious hotels, resorts and malls. In doing so, RAK Properties serves as a catalyst for a dynamic property market in both Ras Al Khaimah and the wider United Arab Emirates.
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