Assist in managing all retail leasing activities and budgeted income related to Aldar retail asset
Assist in achieving the retail leasing NOI targets.
Roles and Responsibilities:
1.Provide input to the tenant mix strategy.
2.Deal origination and negotiation on a strategic leasing basis.
3.Assist in sourcing and securing anchor and ancillary tenants.
4.Conclude deals with the anchor retailers and major retail groups.
5.Work with the Retail Delivery Team to ensure that the shops open on time.
6.Provide monthly update reports to the Senior manager Retail Leasing
7.Develop and implement a sourcing tenants strategy.
8.Negotiate prices within/above range agreed with the GM Retail Leasing
9.Issue lease proposals to potential tenants
10.Negotiate commercial terms and special lease conditions with retailers and kiosk operators.
11.Manage the lease process through from obtaining supporting documents (Trade License, passport copy, Power of Attorney, Article of Association etc.) required to draft Leases/Licenses until the signing of the lease documents and paying of all monies due (rent, service charges, marketing fees, deposits, fit out deposit etc.)
12.Track lease expiries and negotiate renewals; initiate lease renewals six months in advance
13.Execute the leasing plan, with the goal of maximising value creation and improving the tenant mix.
14.Prepare annual budgetary review of the asset and recommend adjustment to market conditions if required.
15.Assess leasing issues on an on-going basis and recommend strategies to mitigate risk.
16.Be proactive to identify issues that may have meaningful economic consequences and work on finding solutions.
17.Maintain a comprehensive understanding of regional retailers and their portfolios.
18.Originate and expand relationships with Middle East regional retailers.
19.Work collaboratively with the various stakeholder teams and executive management, as appropriate.
20.Initiate and oversee legal proceedings where legal action is required relating to tenancies.
21.Operate with the highest level of business integrity and ethics.
22.Coordinate with Retail Delivery Team the design, graphics and fit out of retail units.
23.Ensure CRM system meets Retail Leasing needs and liaise with IT/ERP on platform maintenance and update.
24.Manage direct reports and allocate workload to maximize efficiency.
25.Assist peers in leasing activities with the their projects.
Report to: Senior Vice President - Retail Leasing
Report From: N/A
Capabilities / skills:
8+ years in Retail Leasing including a minimum of 2+ years working in the UAE retail market.
Track record and experience with retailers both in the UAE and Internationally.
Retail leasing experience in super-regional malls, regional malls and community retail.
Capable of implementing of the retail leasing business strategy in order to ensure achievement of organizational vision and mission.
Competent to oversee the Retail setup of a retail establishment structuring individual objectives, managing performance, developing and motivating staff,
Skilled in leading a team in identifying new value added business opportunities using innovative concepts which can be converted into revenue generating opportunities aligned to the business objectives.
Proficient in setting-up leasing targets with the help of historic figures, economic patterns and demographic dictates in concurrence with finance and retail objectives.
Excellent knowledge of the total gamut of the international retail brands and exceptional relationship with the decision makers of the major retail groups / brand holders / Executives in the Middle East.
Well acquainted through international travel to keep abreast of retail initiatives and brand positioning strategies.
Capable of preparing the layout and outline of the retail facility, with the purpose of maximizing the rental and asset value of the project.
Bachelors degree in Urban Estate Management , Business Administration ,or a relevant field. ICSC or equivalent is preferred