Assistant Manager - Speciality Leasing – Retail Destination – Dubai Holding Asset Management

Assistant Manager - Speciality Leasing – Retail Destination – Dubai Holding Asset Management

About Dubai Holding Asset Management:

Dubai Holding Asset Management (DHAM) owns and operates an extensive portfolio of 20 landmark retail destinations and 15 residential communities.

The Group plays a focal role in shaping Dubai's position as a global leader in business, tourism and leisure, contributing to its position as one of the world's most coveted and sought-after liveable destinations.

From hotspot retail destinations like Bluewater's, JBR, Souk Madinat Jumeirah, Al Khawaneej Walk and The Outlet Village to popular attractions, including the Theatre of Digital Art, Madame Tussauds, Tr88house, Museum of Illusions, Dubai Holding Asset Management’s retail destinations captivate millions of visitors and tourists every year.

Meanwhile, the niche and vibrant community centres as Bay Avenue, Mudon Community Centre, and Serena Marketplace play a vast role in enhancing the overall quality of life in residential communities, making neighbourhoods more vibrant and connected.

In 2022, Dubai Holding Asset Management’s retail destinations collectively attracted over 28 million visitors and hosted over 75 events across the portfolio. Dubai Asset Management maintains a substantial presence in Dubai with a leasing portfolio of 15 distinct residential communities, elevating the city’s global recognition as one of the most desirable and liveable destinations worldwide.

About the Job:

An opportunity has arisen for an Assistant Manager - Speciality Leasing to join Dubai Holding Asset Management . The main duties and responsibilities of this role:

The role holder is responsible for ensuring overall Specialty Leasing strategy is achieved in terms of revenue and tenancy mix relevant to each Asset by supporting in the maximization of incremental income for DHAM Retail and contributing in the achievement of business target through implementation of a competitive and innovative Specialty Leasing program directed at promoting and leasing of common mall and project area sites to external agencies organization associations or individual operators .

Budgetary and Strategy Support

• Input projected budget income and size, configuration of the shop units, initiate and support in the preparation of the tenant mix strategy.
• Contribute to the implementation of the strategy for the Specialty Leasing department by ensuring collaboration with the department managers as well as the related assets management.

Commercial Operations

• Initiate deals and negotiation on strategic leasing with potential tenants
• Work with other departments / teams to ensure that the kiosks / activations are open on time.
• Prepare and issue specialty leasing commercial proposals to potential tenants.
• Negotiate commercial terms and specialty leasing conditions with retailers and kiosk operators.
• Identify concepts to achieve the department tenancy mix & financial target that must complement the main retailers.
• Assess leasing issues on an on-going basis and recommend and implement remedial tactics to mitigate risk.
• Communicate requirements of Specialty tenants to the related entity; oversee the allocation of resources to licensees and meet the requirements as per the license agreement, with the overall objective of ensuring that there is no direct conflict of trade with existing permanent / main retailers; as well as resolving any disputes arising thereof. In addition, ensuring specialty retailers are adhering to mall guidelines.
• Ensure constant coordination’s between tenants and related departments (DTS, specialty leasing admin, facility management) to ensure achievement of revenue as per the registered commencement date.
• Achieve the assigned specialty leasing targets, by identifying concepts and ‘offering’ to prospect companies/ organizations/ associations, as well as encouraging the participation of the long-term retailers in specialty leasing programs.
• Coordinate with Specialty leasing administrative team in ensuring new deals, renewals, and cheque payments are always being followed up, collected and executed.
• Maintain up to date list of concepts / pipeline for available locations as well as for potential newly introduced locations.
• Assess specialty leasing related challenges / issues and report the same to the managers / department head with a proposed solution – ensures remedial tactics are implemented to mitigate risks and to avoid negative impact.
• Ensure compliance with organization standard operating procedures to ensure the procedures are with-in parameters set and in compliance with audit requirements as well as HR requirements.
• Conduct thorough market research to identify emerging trends, competitive landscape, and potential opportunities.

Retail Standards

• Work closely with the tenant relations and specialty leasing team in monitoring the standards of presentation by Specialty tenants with respect to displays, fixtures and fittings, sightlines and access to kiosks, as well as regulate merchandising standards in conformance with the visual presentation standards of the mall and the other common areas, by carrying out regular inspections.

Revenue Enhancement

• Identify opportunities for converting unused common areas into revenue generating spaces in line with the overall strategy and direction and present the same to the department managers as well as the department head.

Reporting

• Prepare the required reports detailing the financial elements, leases renewal, occupancy ratio, rental income, budget VS achieved, sales figures, Rent to Sales with the objective and responsibility of providing all relevant information.
• Prepare weekly, monthly and ad hoc reports as required.
• Prepare tenant selection committee proposals and conduct presentations to relevant business stakeholders.

About you:

The ideal candidate for this position will have the following experience and qualifications:

• Bachelor’s degree in Business Administration, Marketing, or a related field.
• Master’s degree is preferred.
• Minimum of 8 years of experience in a similar role within a large retail or real estate organization.
• Strong organizational and time management skills.
• Proven expertise in specialty leasing and marketing.
• High attention to detail with the ability to manage multiple projects simultaneously.
• Strong judgment and decision-making abilities.
• Creative and innovative mindset.
• Excellent negotiation and influencing skills.
• Proficient in Microsoft Office applications.
• Excellent command of English; proficiency in Arabic is highly preferred.
• Prior experience in the Middle East is an advantage.

About the Benefits:

At Dubai Holding, we're committed to nurturing the success and well - being of our colleagues. Join our dynamic and diverse team and enjoy a comprehensive benefit package that includes competitive compensation, career development opportunities, and a collaborative work environment. We strongly believe in creating an empowered workforce that will help us build a connected city for tomorrow. We are committed to attracting the brightest minds and nurturing the most pioneering candidates who desire to make a great impact on the future of Dubai.