Director, Retail Asset Management

Budge Recruitment; Abu Dhabi; On-site; AED 300,000 - 600,000; Full time

Job summary

An established industry player is seeking a seasoned Director of Retail Asset Management to lead their team in Abu Dhabi. This pivotal role involves overseeing P&L management, conducting in-depth financial analyses, and guiding strategic asset decisions. The ideal candidate will possess over 12 years of experience in the GCC retail sector, with a proven track record in managing large portfolios. Join a dynamic team that values innovative thinking and strategic insight, where your expertise will directly influence the success of retail developments and asset management initiatives. This is a unique opportunity to make a significant impact in a thriving market.

Qualifications

• 12+ years in retail asset management with large asset manager.
• Strong knowledge of GCC real estate market, especially Abu Dhabi.

Responsibilities

• Manage P&L and recommend retail asset strategies.
• Perform financial analysis on portfolio assets for acquisitions.
• Monitor financial and operational KPIs of retail portfolio.

Skills

P&L Management

Financial Analysis

Portfolio Management

Interpersonal Skills

Multi-tasking

Education

Bachelor degree in engineering, business or economics

MBA from top school

Tools

Feasibility Study Templates

Job description

Our client, a leading developer in the UAE, is looking for an experienced Director – Retail Asset Management with significant experience in the GCC Retail arena to join their team in Abu Dhabi.

Reporting to the Head of Asset Management and managing a team of Asset Managers, you will be responsible for:

Responsibilities

1. P&L and B/S Management
2. Own the idea generation process for build to lease retail developments
3. Recommend retail asset disposal/acquisition/restructuring opportunities
4. Perform in-depth financial analysis (IRR, ROE, ROI, etc.) on underperforming portfolio assets or attractive ones that are on sale in the market to assess potential divestitures or acquisitions
5. Design feasibility study templates & tools for asset acquisition/disposal/restructuring
6. Recommend, pressure test and review financial model and feasibility studies
7. Liaise with various departments (Commercial and DM) on feasibility study assumptions for asset acquisition/disposal/restructuring
8. Assist Head of Asset Management in making go/no-go decisions on asset disposals or acquisitions based on results of feasibility study

Operations Management

1. Liaise with Development Management during the pre-delivery phase, review and approve adjustments in case of major deviations
2. Receive constant updates from project DM on status of project completion
3. Update all customers of major roadblocks that may affect agreed upon handover dates
4. Recommend overall segment specific portfolio tactics and initiatives
5. Recommend monthly operational and financial targets per mall and share them with the relevant stakeholders to ensure buy-in
6. Monitor and track the financial and operational KPIs of the retail portfolio (mall footfall, tenant sales, leasing profits, etc.)
7. Recommend mitigation actions to resolve deviation from retail asset management plan
8. Provide input to Head of Asset Management to develop cross-portfolio tactics and initiatives

Business Capabilities

1. Should have P&L experience in managing a portfolio of residential and/or commercial properties of at least ~ AED 1-2 billion in annual leasing profits
2. Experience in vast array of retail properties ranging from community malls to regional malls, to private standalone retail stores
3. Proven track record in performance improvement projects for large super-regional malls
4. Strong knowledge and exposure to the GCC real estate market, experience in Abu Dhabi retail market preferred
5. Previous experience with deal sheets is a must
6. 12+ years of experience in retail asset management with large asset manager having annual revenue of at least AED 2 billion

Interpersonal Skills

1. Ability to liaise, influence and interact effectively with Commercial, Business Development/Strategic Planning functions
2. Ability to multi-task so as to manage a portfolio of at least 10 retail developments
3. Excellent management skills (up to 5 reports)

Education

1. Bachelor degree in engineering, business or economics, MBA from top school

Due to the increased number of applicants applying for roles, unfortunately we cannot get back to everyone. If you have not heard back from us within 1 week of your application, unfortunately, you have not been successful.

Please do not apply for this role unless you meet all of the above criteria.

If you know anyone suitable for this role, please use the link below to share this job with them.

About The Company

Welcome to a new world of Recruitment, our aim is simple, to extend the geographical boundaries of the recruitment industry to enable you to recruit the most highly qualified professionals your company deserves.