National retail Leasing Manager

1 month ago

Dubai, United Arab Emirates Al-Futtaim Full time

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

**Overview of the role**
- Setting the tactics of the Leasing strategy on the Retail Portfolio that is aimed at ensuring the viability of the business and meeting overall objectives.
- Provide market information and competition updates
- Managing the rental of retail units to ensure maximum occupancy and a premium level of rentals
- Undertaking lease negotiations and meeting the approved milestones
- The accurate completion of information and paperwork for tenants. (Database, turnovers, etc.)
- Effectively lead and direct the work of others, specifically your direct reports and supporting departments, outsourced consultants (Market Researches, Leasing Agents, etc.)

**What you will do**
- **Planning**: Prepares and implements leasing plans and strategies so as to exploit current market demands and generate future direction for the Retail Leasing business in order to achieve or exceed projected units and revenue target
- **Market Intelligence**: Researches the market in terms of current demand, customer preference, types, size, and location of the properties. Where possible, obtains information on competitors' pricing policy, and property specifications to revamp the company pricing policy, strategies, and tactics to effectively position the property against the competition and enhance market share. Liaises with external consultants for additional insights into the above information and for the formulation of the ERV schedule by the externally appointed consultant as required.
- **Targeting Prospective and Existing Customers**: Oversees preparation of a target list of prospective tenants including high-end and flagship retail brands/customers, local and international, suitable for the type of properties available for leasing. Oversees preparation of schedules showing lease expiry profile on an annual basis. In the case of Retail tenants, prepares an exit strategy if the brand is not considered in line with the agreed Retail mix.
- **Viewings and Presentations**: Manages invitation of tenants to the presentation of drawings/site meetings in order to generate new interest and maintain the interest of existing tenants in the center and work towards deal closure to meet revenue targets.
- **Term Negotiation**: Prepares proposals for new and renewal tenants at rates in line with budget/ERV for communicating to tenants in order to close new business and finalize renewal of existing lease contracts in a timely manner.
Negotiates and finalizes lease terms in line with prevailing SOPs, Budgets, DOA, and any other conditions required by the business.
- **Arranging Legal Documentation**: In liaison with the Lease Administration team ensures that all documentation is correctly prepared by Lease Administration in accordance with the SOP (LAF/LCA, Lease Contract, etc.) and is signed by the authorized person as per the DOA in order to avoid any litigation in future and to serve as a point of reference. Maintains awareness of local legal procedures and practices, ensuring that these are upheld and/or not contradicted in lease terms.
- **Asset/Property Management**: Ensures that existing leases are renewed on time and that any changes in terms and conditions or rentals are correctly recorded and rental is collected on time and in full to avoid any loss of money or dispute with the tenants. Proactively manage the tenancy schedules of assets to regear the lease contracts to increase the valuation of DFC’s portfolio. Negotiate exit strategies for tenants regarded as no longer fitting the overall retail brand mix.
- **Financial Data Entry and Maintenance**:YARDI: Checks that all lease contract information is accurately recorded by Leasing Administration in REFX and systems.
- **Financial**
**Credit Control**: Liaises with Credit Control Department on AR status, follows up with tenants for outstanding payments, finalizes statements of account, and preparation of payment plans.
Prepares monthly statements of negative accruals and other accounting provisions.
**Analysis and Reporting**: Progress Reports: Oversees preparation of progress reports on

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