Director - Residential and Commercial Assets

AlFuttaim; Dubai; On-site; AED 600,000 - 1,000,000; Full time

Job summary

Al-Futtaim Real Estate seeks a Director to lead residential and commercial assets in Dubai. You will steer strategic asset management, portfolio planning, and P&L performance across luxury and mixed-use properties, aligning plans with investment mandates and ROI targets.

You will guide leasing, tenancy relations, facilities oversight, service charge governance, and capital projects while developing teams and coordinating with Finance, Legal, and Development groups.

Qualifications

• Bachelor's degree in Real Estate, Finance, Business Administration, Engineering, or related discipline.
• Master's degree, MBA or MSc in Real Estate or Asset Management preferred.
• More than 20 years of asset and property management experience with senior leadership exposure.

Responsibilities

• Develop and execute strategic asset management and portfolio plans across Dubai assets.
• Manage P&L, budgeting, forecasting, and capital expenditure alignment with Finance.
• Lead residential and commercial leasing strategy to optimize occupancy and pricing.
• Oversee tenant relations, VIP stakeholder engagement, and service-level performance.
• Supervise facilities management, AMC contracts, and safety/compliance standards.
• Lead major capital projects, lifecycle planning, and ROI-driven investments.
• Govern service charge budgeting/auditing with transparency and governance.
• Monitor market trends and competitor benchmarks to inform strategy.
• Provide strategic direction to asset management teams and cross-functional partners.

Skills

P&L accountability

Asset management

Leadership

Cross-functional teams

Leasing strategy

Facilities management

Service charge governance

Capital planning

Market intelligence

Stakeholder engagement

Education

Bachelor's degree in Real Estate, Finance, Business Admin, Engineering or related

Master's degree, MBA or MSc preferred

20+ years asset/property management experience

5+ years senior leadership in large mixed-use portfolios

Job description

Director - Residential and Commercial Assets Job Snapshot Role: Director - Residential and Commercial Assets Location: Dubai, UAE Industry: Real Estate Function: Property Management Experience: 20 years in asset and property management, including at least 5 years in senior leadership Job Type: Full Time Work Arrangement: On-site Position Overview Al-Futtaim Real Estate is seeking a Director - Residential and Commercial Assets in Dubai, UAE to lead the strategic and operational performance of its residential and commercial portfolio. The position carries responsibility for asset value growth, P&L performance, leasing strategy, tenant relationships, facilities management oversight, service charge governance, capital investment, and portfolio planning. The Director will lead multidisciplinary teams while driving sustainable revenue, occupancy, asset competitiveness, and long-term investment performance.

Strategic Asset Management and Portfolio Planning

The Director will develop and execute strategies for Dubai Festival City and Al-Futtaim Real Estate residential and commercial assets, aligning individual asset plans with long-term financial objectives and investment mandates. Key responsibilities include leading annual business planning, establishing performance benchmarks, developing asset repositioning strategies, increasing Net Operating Income, delivering approved annual and five-year asset plans, and supporting asset valuation growth through internal and external performance benchmarking.

P&L and Financial Performance

• Manage the complete profit and loss performance of residential and commercial assets.
• Oversee income, operating costs, service recovery, and profitability.
• Develop asset-level budgets, forecasts, and capital expenditure plans in collaboration with Finance.
• Maintain budget discipline and control material variances.
• Drive performance against portfolio revenue targets.
• Ensure timely and accurate monthly and quarterly financial reporting.

Residential and Commercial Leasing

Lead leasing strategy across the residential portfolio and commercial retail and office assets, with a focus on sustainable occupancy, competitive rental performance, tenant retention, and appropriate tenant mix. The role will define and monitor residential leasing and sales strategies, improve unit absorption and renewal performance, reduce tenant churn, and ensure rental pricing and property positioning remain responsive to market conditions.

Tenant and Community Management

• Act as a senior point of contact for VIP tenants and key commercial lease partners.
• Establish effective tenant feedback mechanisms and act on identified service issues.
• Support tenant satisfaction and Net Promoter Score objectives.
• Ensure tenant concerns are resolved within agreed service levels.
• Drive long-term renewals with strategically important tenants.

Property and Facilities Management Oversight

The Director will oversee in-house and outsourced facilities management performance, ensuring residential and commercial assets meet operational KPIs, health and safety standards, maintenance requirements, and agreed SLAs. Responsibilities include monitoring AMC contract compliance, critical-system downtime including HVAC and elevators, preventive maintenance performance, service resolution, cost efficiency, and alignment of operational services with the requirements of each asset class.

Capital Projects and Lifecycle Planning

• Lead major capital improvements, refurbishments, and lifecycle upgrades across the portfolio.
• Develop business cases supporting Capex approval.
• Track capital investment through defined KPIs and ROI measures.
• Drive timely and on-budget delivery of approved projects.
• Evaluate investment returns and the impact of improvements on building quality and competitiveness.

Service Charge Governance

Oversee service charge budgeting and auditing in collaboration with Finance and Facilities Management. The role will focus on transparent and recoverable service charges while maintaining compliance with RERA and applicable strata management requirements. The Director will monitor annual recovery rates, reconciliation timelines, audit compliance, and tenant expectations regarding service charge transparency.

Market Intelligence

Monitor UAE real estate trends, competitor positioning, regulatory developments, rental conditions, and other market factors affecting portfolio strategy. Engagement with brokers, research agencies, and relevant industry events will support competitive benchmarking, pricing decisions, leasing strategy, product positioning, and timely responses to changes in the regulatory or commercial environment.

Team Leadership

Provide strategic direction to the asset management team responsible for residential and commercial properties across Dubai Festival City and the wider Al-Futtaim Real Estate portfolio. The Director will guide and develop property managers, leasing specialists, analysts, and other professionals while promoting accountability and effective delivery. Close coordination with Finance, Legal, Facilities Management, and Development teams will be essential to portfolio and project performance.

Required Skills

• Strong strategic, financial, and commercial acumen with P&L accountability.
• Extensive residential and commercial asset management capability.
• Strong leadership and stakeholder engagement skills.
• Ability to lead cross-functional teams and manage multiple real estate assets.
• Sound understanding of residential and commercial leasing.
• Knowledge of facilities management operations and service-level performance.
• Capital planning and investment evaluation capabilities.
• Understanding of service charge governance and property operating economics.

Qualifications and Experience

• Bachelor 's degree in Real Estate, Finance, Business Administration, Engineering, or a related discipline.
• Master 's degree, MBA, MSc in Real Estate, or MSc in Asset Management preferred.
• More than 20 years of asset and property management experience.
• At least 5 years in a senior leadership position managing large mixed-use portfolios.
• Proven experience managing income-producing residential and commercial real estate assets.
• Strong UAE or GCC real estate market exposure is essential.
• Experience with design input, lease structuring, and service charge governance.
• Experience with freehold properties is advantageous.

About Al-Futtaim Real Estate

Al-Futtaim Real Estate is part of Al-Futtaim and has more than six decades of experience in real estate and asset management. The business plans, develops, and manages a diversified portfolio across the MENA region, covering residential, commercial, malls, hospitality, healthcare, infrastructure, education, and other asset types. Its major mixed-use communities include Dubai Festival City and Cairo Festival City. Al-Futtaim Real Estate is also responsible for Al-Futtaim Contracting, an integrated specialist business providing construction, engineering, technology, and facilities management solutions across the UAE, Saudi Arabia, Qatar, and Egypt.