Vice President, Asset Management - Retail

This role supports the EVP, Head, Global Asset Management Division in the development and implementation of asset management strategies to optimise return on investment on all retail assets.

Responsibilities

1. Oversee retail portfolio’s budget, monitor performance indicators such as occupancy, rental and NOI margin.
2. Responsible for the Portfolio performance and provide explanation to the portfolio’s reforecast NOI variance, achieved rentals, occupancy and margins.
3. Provide guidance to the GMs to improve the NOI margin and profitability of portfolio and ensure that the retail properties are professionally managed with consistently high service standards.
4. Guide and set strategic directions for the team with marketing/leasing strategies and structure/strategize leasing deals to achieve maximum rental income for the retail portfolio. This includes asset positioning, tenant/trade mix, target industries, tenant sizes, subdivision strategy and understanding the market dynamics.
5. Conduct weekly and monthly meetings with the GMs to discuss leasing progress/issues.
6. Strategize and oversee negotiations on major renewals, new leases and IPTs and promote good Landlord relations.
7. Provide guidance to the marcom team on programs to drive footfalls and spending to the malls.
8. Guide the team to prepare annual business plans for the malls under management.
9. Lead the team to execute strategies in the approved business plans to achieve the optimal returns to the assets, including Asset Enhancement Initiatives.
10. Provide monthly report to the CEO on the portfolio performance.
11. Support BDI on retail rental analysis for feasibility studies for new development or AEI projects.
12. Support MCST buildings including representation in council and pro-temp committees for en-bloc sales.

Requirements

1. Minimally a recognized Degree in Business, Real Estate and/or Marketing related disciplines.
2. Minimum 10 years of relevant experience in leasing and retail management with exposure to asset management in a REIT / real estate fund environment an added advantage.
3. Strong analytical and negotiation skills.
4. Good team player, possess a high level of initiative, hands-on, resourceful and able to work independently in a fast-paced environment.
5. Highly motivated, positive, driven and willing to learn.

City Developments Limited (CDL) is committed to fostering an inclusive culture that respects the diversity of its employees and stakeholders. As a signatory of the Employers Pledge for Fair Employment with TAFEP since 2008, CDL’s recruitment process adheres to strict guidelines on non-discrimination and fairness, regardless of gender, ethnicity, religion, or age.