Retail Leasing Director

2 weeks ago

dubai, United Arab Emirates Michael Page International (UAE) Full time

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About Our Client

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
The Successful Applicant

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
What's on Offer

Opportunity to work with a leading property group in the UAE

Leadership role responsible for full portfolio strategy, operations and P

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