Manager, Asset Management

3 days ago


UAE, United Arab Emirates Majid Al Futtaim Full time

Majid Al Futtaim invites you to join us in our quest to create great moments for everyone, everyday We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 45,000 team members in 17 international markets representing over 100 nationalities - all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.

**Role Purpose**:
The position is primarily responsible to co-own, co-lead and ensure the asset management agenda across designated geographies is delivered. This is achieved through the building of the strategic plan in accordance with the strategy of MAFH, MAFP and SMBU. While the Regional Managing Director is responsible for the day-to-day execution of the annual plan, the role will support the asset management lead who is responsible for supporting and monitoring performance and ensuring that key initiatives are being driven enabling the Regional Managing Director to focus on day to day operational performance.

**Role Details - Key Responsibilities and Accountabilities**:

- Accountable for maximizing the overall economic value of each asset assigned to the portfolio by taking the ‘owner’s view’, ensuring implementation of best practices defined by the Head of Asset Management and leading the team after asset is operational.
- Drive the cross-functional team throughout the development process and provide relevant inputs while ensuring real estate best practices are applied e.g. coordinate with leasing leads formulating target tenant mix based on market positioning.
- Track and drive performance of the development projects on operating assets while ensuring lessons learned are tracked and accounted for in new projects.
- Work with the Strategy and Asset Management Leads to create development briefs ensuring product alignment to consumer and customer requirements in a manner that is financially viable.
- Work with the Strategy and Asset Management Leads to drive the annual Asset Plans, incorporating the executional roadmap for all outlined initiatives.
- Define and drive the business plan and value creation strategy/positioning for each asset by taking the ‘owner’s view’ for the assigned portfolio.
- Lead cross-functional team for operating assets to implement asset-level strategic plan, ensuring cross-functional coordination to maximize asset value.
- Act as the translator of business insights into an actionable roadmap for regional team execution.
- Review asset-level annual budgets for Marketing, Leasing and Shopping Center Management and ensure alignment with strategic plan.
- Leverage the expertise from the SMBU Asset Management Senior Director and ensure implementation.
- Approve relevant contract adjustments, leases, renewals, and re-tenanting depending on their value.
- Work with the Strategy Lead to develop the research requirements for the assigned portfolio.
- Conduct regular performance monitoring (e.g. rent recovery, footfall, turnover, sales, etc.) for the assigned portfolio.
- Work closely with the Finance / Regional Teams (for assigned portfolio) on supporting Quarterly Forecasting and ensuring all leasing budgets are assigned under the agreed upon framework.
- Support Regional Leasing Teams in the preparation and structure of leasing deals prior to approval process.
- CAPEX prioritization framework to be embedded in all business cases with the relative teams prior to their submission for approval.
- Continuously monitor CAPEX spend vs requests and ensure reporting in collaboration with the asset control team.
- Provide inputs for valuation team in Corporate Finance.
- Support in drafting any amendments to the policies, procedures and DOA as required.
- Lead the build-up of operational risk register in the region together while ensuring clear mitigation and ownership strategies are in place. Monitor and report as required through finance and MAFP to the ARC.
- Ensure compliance with the MAFP SMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all times.
- Be the advocate and ambassador of aligning and cascading the MAFP values in the assigned area of responsibility and ensure that relevant team adhered to and exhibit the same all the time.
- Build the capability of staff reporting into by providing on time regular feedback including annual review on performance and identify areas of improvement / reinforcement for further development.
- Manage, guide and mentor the Asset Management team reporting into and take full responsibility in identifying potential talent and timely



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