- Develop and implement leasing strategy and business plans in order to identify new leasing opportunities in local/international markets and achieve the annual leasing objectives.
- Provide inputs in the development of leasing plans, policies, procedures and practices that ensure adequate safety and provide sustainable services to the business units within Leisure & Entertainment.
- Ensure compliance in leasing procedures followed by executing all leasing operations for various locations within GCC and ME to fulfill business objectives.
- Proactively prepare business development strategic plans, growth strategies, new market entry strategies, acquisition, mergers, joint venture strategies and strategic alliances in line with the vision, and mission and strategic objectives of MAFV and MAF L&E, and the relevant business unit.
- Initiate and obtain the necessary approvals for feasibility studies of upcoming projects and agree with Business Units’ COOs amount of space to be leased, time frames and the target rent to be achieved and construction timetables for upcoming projects and obtain the required internal and external approvals for implementation.
- Identify and develop potential business opportunities to meet tangible objectives and targets for growth, to maximize and sustain revenue and profitability. Special focus on key leasing drivers including IRR and each deal’s NPV.
- Proactively network with potential clients in order to ascertain the prevailing market trends and strategies and provide input to realistic development plans and identify new areas of development working on strategic relationships.
- Manage and ensure enquiries from leasing agents and Landlord are handled promptly, filed and replied to in a timely manner and when necessary and arrange site visits.
- Lead negotiations with landlords for each leasable space and make recommendations on preferred locations for senior Management decision making. Conduct lease renewal and store closure negotiations.
- Negotiate and close individual leasing transactions and renewals.
- Develop mechanisms to gather market intelligence about local/regional competition and commission and utilize the market research for ongoing and future projects in order to assess the opportunities and proactively plan to explore these opportunities.
- Conduct feasibility studies and opportunity analysis through developing initial and detailed feasibility and sensitivity models for all opportunities for proposed developments/opportunities.
- Develop financial and business models from market intelligence data and customer feedback so as to ensure deployment of an ideal business model that delivers growth and profitability to the company.
- Analyze market trends, and conduct market research in order to prepare the overall budget forecast for income and expenditure for the Leasing and sales. Ensure that the forecast is in line with company objectives and continually review the budget forecast against actual to ensure targets are being achieved, take remedial action in the case of any negative variances.
- Oversee and lead the administration section and ensure implementation of all leasing administration plans, systems in line with department objectives.
- Review and ensure all financial aspects of the leasing agreement are clearly documented and agreed to whilst entering into the Tenancy Agreement, and subsequent to agreement, relationship is established between the finance departments, Tenant and the Company, with the objective of establishing clear lines of financial transaction and revenue generation during the term of the tenancy contract.
- Search suitable real estate for retail stores in desired retail development through site identification and lease negotiation. Thereafter manage the process of appointment of contractors.
- Provide solutions should difficulties and complications arise relative to real estate portfolios of the business units.
- Review Leasing activity reports and the status of each negotiations held with potential locations.
- Review and recommend corrective actions based on leasing activity reports so as to monitor and review the performance of company against key performance indicators in order to highlight any variances to management for corrective action.
- Attend leasing update meetings and provide detailed status updates to CEO and VP Business Development.
- Provide leadership in the section – setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal – in order to maximize subordinate and departmental performance in the pursuit of the Department objectives.
- Generate revenue to the stores through short term and in-line store leasing
- Add value to the property by providing guests experiences that would make their visit enjoyable therefore increasing their dwelling time in each store
- Build the brand by bringing fresh, new to market offerings and products to the property that will excite and engage the guests
- Generate additional revenue through media and sponsorship across all the leisure centers
- Centralize sub-leasing and all 3rd party contracts to the Leasing Department to provide control and minimize risk.
- Graduate in Commerce/Business/Marketing or similar fields (Masters in Business Administration preferred).
- Minimum 11 years of experience in commercial /Retail leasing of which at least 5 years in a senior managerial position.
- General knowledge of the local laws governing Landlord/Tenant relationships.
- Understanding of the commercial leasing market of UAE, and Middle Eastern environment.
- Possess a strong market awareness of all competitors and competing Shopping Malls.
- To be sensitive to market changes to determine the types of retailers, the Centre should be attracting.
- Ability to handle multiple tasks. Coordinate, manage and communicate efficiently and effectively.
- Effective verbal and written communication skills.
- Strong organizational skills and ability to remain composed and flexible.
- Trustworthy and dependable.
- Self-motivated, creative and resourceful.
- Professional presence and appearance.
- Knowledge and understanding of real estate law finance, accounting practices and procedures.
- Good math and analytical skills.
- Basic understanding of construction methods.
- Strong organizational and administrative skills.
- Arabic speaker is key to lease negotiations in territories such as KSA & Egypt
About the Company
Inspired by our vision to \”create great moments for everyone, everyday\”, Majid Al Futtaim has been at the forefront of family entertainment destinations since 1995 with the opening of Magic Planet.
Since then, the Company has added great attractions such as VOX Cinemas, Ski Dubai, iFly Dubai and Wahooo! that form part of our recreational DNA that we carry across the different markets we operate in.
Our attractions and venues cater to people of all ages and tastes, whether movie buff or a child looking to touch snow for the first time.