Leasing Specialist

Roles and Responsibilities

• Support in retail leasing activities and budgeted income related to Aldar retail asset while achieving the retail leasing NOI targets
• 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 to the Senior manager Retail Leasing
• Develop and implement a sourcing tenants' strategy
• Negotiate prices within/above range agreed with the 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 asset and recommend adjustment to market conditions if required
• Assess leasing issues on an ongoing 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

Qualification And Experience

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

RELATED YEAR 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

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)

Desired Candidate Profile

1. Strategic Planning: Developing and implementing leasing strategies that align with the organization's overall goals and market trends.

2. Market Analysis: Conducting thorough market research to identify opportunities for retail leasing, including assessing competitive properties and tenant demand.

3. Tenant Relationships: Building and maintaining strong relationships with existing and potential retail tenants, understanding their needs and preferences.

4. Lease Negotiation: Leading negotiations for lease agreements, ensuring favorable terms for both the organization and the tenants.

5. Portfolio Management: Overseeing the leasing of retail properties within the portfolio, monitoring occupancy rates and performance metrics.

6. Marketing Initiatives: Collaborating with marketing teams to develop promotional strategies that attract tenants and enhance property visibility.

7. Financial Analysis: Evaluating the financial aspects of leasing proposals, including rental rates, tenant improvements, and overall profitability.

8. Collaboration with Development Teams: Working closely with development and operations teams to ensure that retail spaces meet tenant requirements and are effectively positioned in the market.

9. Reporting: Preparing reports on leasing activity, market trends, and performance metrics for senior management and stakeholders.

10. Industry Networking: Building a network of industry contacts, including real estate brokers, developers, and retail professionals, to identify leasing opportunities and stay informed on market developments.

Skills

1. Real Estate Expertise: Strong knowledge of retail leasing principles, market dynamics, and property management.

2. Negotiation Skills: Exceptional negotiation skills to secure favorable lease terms and resolve disputes effectively.

3. Analytical Skills: Ability to analyze market data and financial reports to inform leasing strategies and decisions.

4. Communication Skills: Excellent verbal and written communication skills for engaging with tenants, stakeholders, and team members.

5. Relationship Management: Strong interpersonal skills to build and maintain relationships with tenants and industry contacts.

6. Project Management: Ability to manage multiple leasing projects simultaneously, ensuring deadlines and objectives are met.

7. Attention to Detail: High level of accuracy in reviewing lease agreements and conducting financial analyses.

8. Marketing Acumen: Understanding of marketing strategies and techniques that drive tenant interest and engagement.

9. Problem-Solving: Strong problem-solving abilities to address leasing challenges and develop innovative solutions.

10. Adaptability: Flexibility to adapt to changing market conditions and tenant requirements.