Role Details – Key Responsibilities and Accountabilities:
Liaise closely with the Director STR to achieve or exceed the annual revenue targets set for the Short Term Retail (STR) program in each of the assigned operating assets.
Lead and manage the Specialty Leasing team.
Set the Specialty Leasing (STR) yearly strategy, in line with the Business unit strategic objectives
Set the yearly budget and periodic forecasts for the department and allocate related responsibilities across the team. Ensure targets are met by the team. Manage the budgets for the assigned operating assets and monitor the monthly income, ensuring budgets are either met or exceeded.
Ensure and maintain full level of occupancy across all unit types i.e. kiosks, wall units, service units, ATMs and any other unit that is identified for STR.
Identify and prospect potential clients and new retail concepts suitable for the assigned operating assets and ensure to maintain database of potential tenants.
Expand opportunities in the Short Term Retail (STR) areas in the assigned operating assets by conducting regular field visits to gain full knowledge of new retail concepts and competition, with a view of growing business and increasing profitability.
Manage the entire sales process from proposal stage to execution.
Lead, negotiate and conclude lease agreements with key account tenants and existing brands in line with the tenancy mix and budget
Prepare and manage all necessary documentations (including but not limited to concept approvals, proposals, license agreements, TVR’s etc.,) in line with MAFP’s policies and procedures.
Maintain a proper filing procedure to record all deal related correspondence, including maintaining tenant marketing brochures library.
Ensure that all dues (including but not limited to documents, payments, sales reports) are collected on a timely basis.
Liaise with the concerned Departments of AMBU e.g. Property Management and Finance etc., on day to day related matters of STR.
Coordinate closely with the Retail Design & Delivery team and Visual Merchandiser in all matters relating to the retail concept especially matter that may impact the sales performance.
Maintain good relations with existing tenants, follow up on complaints, if any and assist in resolving problems and provide optimal level of service, following established policies and procedures.
Prepare regular status reports i.e. weekly / monthly outlining the sales revenue vs. targets and occupancy level in the assigned operating assets including forecasting reports and variance reports for Management’s review.
Prepare market analysis report(s) with track of market rentals for STR units in competing malls.
Maintain accurate filing of all Lease deal related information and agreement (both physical and on system e.g. Yardi / and/or SharePoint etc.) so as to enable the team to refer the same with respect to rent collection / renewal / extension etc., as well as to serve as a point of reference in case of any litigation.
Ensure compliance with the MAFP AMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all time.
Be the advocate and ambassador of aligning and cascading the MAFP values in the assigned area of responsibility and ensure that it is adhered to and exhibit the same all the time.
Personal Characteristics and Required Background:
Bachelor’s degree in Business Administration or equivalent.
Minimum 7 years work experience in managing Sales / Clients for short term lease / Lease Administration and Documentation activities preferably in a reputed Retail / Real Estate companies in GCC.
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one mans vision to transform the face of shopping, entertainment and leisure to create great moments for everyone, every day. It has since grown into one of the United Arab Emirates most respected and successful businesses spanning 15 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.
Majid Al Futtaim owns and operates 25 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 37 markets across the Middle East, Africa and Asia, and operates a portfolio of more than 270 outlets in 15 countries.
Majid Al Futtaim operates more than 400 VOX Cinemas screens and 36 Magic Planet family entertainment centres across the region. In addition to iconic leisure and entertainment facilities such as Ski Dubai, Orbi Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company ‘Najm’, and a Fashion and Home retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.