Vice President – Retail Leasing
1 week ago
JOB PURPOSE
Support in retail leasing activities and budgeted income related to Aldar retail asset while achieving the retail leasing NOI targets.
ROLES AND RESPONSIBILITIES
- Provide input to the tenant mix strategy.
- Support the Retail Asset management team in valuation assumptions related to new projects.
- Support in deal origination and negotiation on a strategic leasing basis.
- Assist in sourcing and securing anchor and ancillary tenants.
- Work with the Retail Delivery Team to ensure that the shops open on time.
- Provide monthly update reports to the Senior manager Retail Leasing.
- Develop and implement a sourcing tenants' strategy.
- Negotiate prices within/above range agreed with the Director - Retail Leasing.
- Issue lease proposals to potential tenants.
- Obtain supporting documents for the lease processes such as 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.).
- Track lease expiries and initiate lease renewals six months in advance.
- Support in the execution of the leasing plan, with the goal of maximizing value creation and improving the tenant mix.
- Prepare annual budgetary review of the asset and recommend adjustment to market conditions if required.
- Assess leasing issues on an ongoing basis and recommend strategies to mitigate risk.
- Be proactive to identify issues that may have meaningful economic consequences and work on finding solutions.
- Maintain a comprehensive understanding of regional retailers and their portfolios.
- Originate and expand relationships with Middle East regional retailers.
- Work collaboratively with the various stakeholder teams and executive management, as appropriate.
- Initiate and oversee legal proceedings where legal action is required relating to tenancies.
- Coordinate with Retail Delivery Team the design, graphics and fit out of retail units.
- Ensure CRM system meets Retail Leasing needs and liaise with IT/ERP on platform maintenance and update.
- Assist peers in leasing activities with their projects.
QUALIFICATION AND EXPERIENCE
Bachelor's degree in Urban Estate Management, Business Administration, ICSC or equivalent is preferred.
RELATED YEAR OF EXPERIENCE:
Min of 10+ years of related experience in Retail Leasing.
YOE IN MANAGERIAL POSITION
Min of 2+ years of experience in a similar managerial position heading a division/department.
TECHNICAL AND INTERPERSONAL SKILLS
- 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.
- Capable of preparing the layout and outline of the retail facility, with the purpose of maximizing the rental and asset value of the project.
- Able to formulate tenancy mix strategy for the project whilst being cognizant of the indigenous demographics and socio-economic retail spend of the catchment.
- Excellent business relationship with the retailers in order to gain periodic market intelligence.
- Experienced negotiator to ensure rentals are above the target rents, to maximize the asset value.
- An inherent team player with remarkable skills for interacting successfully at every level of hierarchy.
- Demonstrated skills in building and maintaining strong relationships with internal and external stakeholders.
- Excellent negotiation and persuasion skills.
- Excellent conflict resolution/management skills.
- Excellent communication and interpersonal skills.
- Excellent relationship with major Middle East regional retailers.
- Large and diverse network of clients (especially within the UAE).
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