Vice President - Retail Leasing

Job Purpose

The Vice President of Retail Leasing Support in retail leasing activities and budgeted income related to Aldar retail assets while achieving the retail leasing NOI targets. The VP of retail Leasing must be an active networker with a good understanding of global and regional brands that are well established in the UAE and with regional contacts for these brands / companies.

Please note, this role is for Emiratization only.

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 for the Senior Vice president - Retail Leasing.
• Develop and implement a sourcing tenants' strategy.
• Negotiate prices within/above range agreed with the Executive 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 assets and recommend adjustment to market conditions if required.
• Assess leasing issues on an on-going 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.
  
  
  

KEY RESULTS AREAS

• Leasing Targets achieved
• Proper anchor and ancillary tenants
• Concluding deals with the anchor retailers and major retail groups
• Negotiate prices within/above range agreed with the GM Retail Leasing
  
  
  

Related Years 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
  
  
  

Field Of Experience

• Super-regional / local malls, regional malls and community retail
  
  
  

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)
  
  
  

Qualifications

• Bachelor’s degree in Urban Estate Management, Business Administration, ICSC or equivalent is preferred.