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Job Description
- Prepares the leasing initiatives and their corresponding annual budget incorporating; leasing space, the time frame required to lease, the target rental rate to be achieved, the appropriate merchandise mix compatibility, and presents to the Leasing Director for approval.
- Collaborates with the Legal Manager in developing tenants’ leasing commercial proposals and ensures it matches with the leasing objectives and tenant mix strategy.
- Ensures tenants’ signature of commercial contracts, and the achievement of the approved budget. Ensure communication with the Legal Department to keep track of all signed contracts.
- Conducts leasing studies, through research agencies or own resources, when needed, , to study/scan market trends and customer behaviors in respect of; tenant mix, new tenant entrants, new brands, new commercial assets launch etc. analyses and interprets data and information and provides recommendations for improvement.
- Conducts bi-annual researches through research agencies to detect current leasing activities effectiveness, in respect of; tenant mix impact on footfall, tenants’ payment behaviors, tenants’ satisfaction rates regarding rendered services, etc. analysis and interprets data and information, and provides recommendations for improvement.
- Manages tenant’s timely handover and unit opening date as per the contractual agreement, to ensure the start of a timely rent cycle and secure the expected cash flow.
- Communicates with the Corporate Marketing function, while setting the marketing plans and calendars for the leasing activities, to ensure triggering the targeted and potential tenants’ awareness and raise interest in the new development.
- Negotiates “Specialty Leasing (Kiosks)” deals, achieving the set revenue targets as per the approved leasing plan, and coordinates with the marketing department to ensure it is aligned with the marketing activities for the mall.
- Holds regular meetings with key tenants to discuss their sales performance, payment trends, and also attends to their inquiries and resolve their challenges in a timely manner. Ensures the registering of tenants’ inquiries for analysis and service improvement.
- Tracks upcoming renewals, critical dates and deadlines, and identifies key lease related issues requiring negotiations to ensure the company takes advantage of all rights available (i.e. tenant options, expirations, terminations, and co-tenancy).
- Prepares regular leasing activity reports and the status of each negotiation and presents to relevant stakeholder for review and action.
Job Requirements
Academic
- Bachelor’s Degree in Management, Business Administration, or related field, required.
Experience
- Minimum 10 years relevant and similar capacity of leasing management
- Requires well-rounded knowledge of the development retail industry regulations and operations.
Skills:
- Fluent in Arabic and English Languages
- Solid understanding of financial performance indicators
- Ability to interpret complex real estate lease terms
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