Retail Leasing Director
3 weeks ago
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- Opportunity to lead leasing strategy & operations for High-end Retail Portfolio
- Position is with a well renowned property group in the UAE
Our client is a major property group that develops and operates a multi-asset class portfolio including, residential, retail and commercial projects.
Job Description- Manage the Retail Leasing process for own retail assets
- Inputting to the Master Planning of the development in terms of the size, configuration of the shop units, placement of anchors, hypermarket, LSU's, food-court, casual dining and coffee shops, cinema, FEC and other entertainment centers whenever applicable
- Develop the tenant mix strategy and prepare for approval
- Initiate and facilitate direct negotiations to lease-assigned Retail Assets in accordance with the pre-approved strategy/mix and financial parameters
- Source and secure anchor and ancillary tenants
- Validate and approve retail concepts
- Conclude deals with the anchor retailers and major retail groups
- Oversee the Lease Administrators to finalize the Leases and issue NTC's to the Retail Delivery Team
- Coordinate with the Retail Delivery Team to ensure that the shops open on time
- Negotiate prices within/above range agreed with the Executive management
- Issue lease proposals to potential tenants
- Negotiate with current tenants and new prospect brands the terms from lease negotiations with tenants/prospects and ensure maximum rental income
- Oversee the entire 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.)
- Track lease expires and negotiate renewals; initiate lease renewals six months in advance
- Take leadership and ownership of the leasing plan, with the goal of maximising 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 on-going basis and recommend strategies to mitigate risk
- 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
Key requirements:
- Previous experience working with large retail group, developers or property management provider
- Extensive retail leasing experience in a senior leadership role
- Extensive network in the UAE retail sector along with an international network of high end retailers
- Experience leasing in large shopping malls, retail districts or community retail assets
- Capable of leading the development and implementation of the retail leasing business strategy in order to ensure achievement of organisational 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 maximising the rental and asset value of the project
- Using experience to formulate the tenancy mix strategy for the project whilst being cognisant 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
- 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
- Opportunity to work with a leading property group in the UAE
- Leadership role responsible for full portfolio strategy, operations and P&L
- This role will give access to senior leadership in the company with extensive knowledge an experience in the real estate sector
- Excellent work environment with multicultural workforce
Michael Page International (UAE) Limited, Registration No. 0207 a DIFC registered company. Al Fattan Currency House Tower -1. Dubai International Financial Centre (DIFC)., Office No. 202, Dubai,
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