Senior Director - Residential Asset Management

Qiddiya | القدية; Riyadh; On-site; SAR 300,000 - 400,000; Full time

Job summary

A leading investment firm in Saudi Arabia is looking for a Director - Asset Management Residential to optimize performance and drive key initiatives for residential projects. The ideal candidate will have over 10 years of experience in residential real estate leasing and a strong background in asset management. Responsibilities include leading leasing activities, collaborating with management teams, and ensuring financial performance aligns with organizational goals. This position offers a comprehensive benefits package.

Benefits

Comprehensive benefits package

Qualifications

• Proven experience in asset management with a focus on residential leasing.
• Relevant Residential Leasing certifications and industry memberships.
• 10+ years of experience in Residential real estate leasing, marketing, and sales management.

Responsibilities

• Lead project leasing for both off-plan and secondary market activities.
• Achieve optimum financial and revenue performance for the Residential Asset and portfolio.
• Develop and implement Qiddiya Asset Management (Residential) policies and standards.

Skills

Asset management

Residential leasing

Market analysis

Financial metrics definition

Operational efficiency

Education

Bachelor's degree in Real Estate or related field

Master’s degree

Job description

Overview

As part of its development of Qiddiya City, Qiddiya Investment Company ("QIC") the Director - Asset Management Residential will lead a team and collaborate with other internal and external professionals to optimize the performance of the assets, minimizing risk with the QIC corporate framework and Qiddiya City objectives.

Roles and Responsibilities

• Adopt an Owners Perspective; provide development colleagues with insight on target market identification, design and fitout applicability to target market, marketability, pricing, and absorption through the stage gate process.
• Prepare a Multiple broker network strategy tailored to the positioning of each residential stage and release.
• Maintain a regional focus with high visibility within the GCC market (UAE & International e.g. Sotheby’s / Christie’s / Savills).
• Develop a local broker network with a dedicated local sales manager and team to incentivize and manage networks within the KSA and other similar strategies.
• Establish an experienced multilingual Leasing team with extensive market knowledge from the GCC, UAE, and KSA markets.
• Lead project leasing for both off-plan and secondary market activities.
• Demonstrate clear understanding and experience of institutional and investor leasing.
• Leverage an established personal network of brokers and agencies within the region.
• Input into designing a commission structure attractive for specialist leasing experience, competitive with UAE development and current KSA offerings.
• Forecast high external broker leasing activity in early phases to drive enquiry and leasing rates until the residential market and on-site enquiry are established.
• Collaborate with CDU sales and leasing marketing teams to ensure operational readiness for the Leasing Launch.
• Achieve optimum financial and revenue performance for the Residential Asset and portfolio, contributing to target ROI and long-term sustainable return.
• Contribute to delivering QIC's ESG vision and commitments for Residential assets.
• Maximize the value of the QIC BTR portfolio.
• Work closely with the Qiddiya Residential Property Management team to assist openings and ongoing operations of each residential asset.

Responsibilities (continued)

• Assist in developing and implementing the Asset Management Framework for Residential assets in Qiddiya, including setting, monitoring, and refining a Residential Asset Management Strategy (ResiAMS) that delivers on financial performance and operational efficiencies for long-term sustainable growth.
• Define Financial Metrics/targets (e.g., NOI/EBITDA, Operating Margin, Revenue per unit, Leasing cost per transaction, Renewal and retention rates, Cash Flow Management, IRR).
• Monitor Tenant/Leasee Metrics/Targets (Customer Experience, Customer Satisfaction, Profitable NPS, Customer Safety, Exceptional Service Quality).
• Set Operational Efficiency Metrics and Targets (Pre-leasing downtime, rates per meter, rates per dwelling type).
• Assist in designing Asset Management (Residential Leasing) team structure and on-boarding aligned with ResiAMS.
• Develop and implement Qiddiya Asset Management (Residential) policies, standards, and KPIs for sector assets.
• Support and assist with negotiations, execution, and management of contracts, service agreements, and consultancies with Strategy and Development teams across the ResiAM portfolio.
• Collaborate with Operational Readiness teams to ensure smooth delivery of pre-opening activities.
• Develop strategic relationships with Residential Sales Team to coordinate between Residential BTS and BTR teams.
• Oversee all Residential Leasing activities and portfolio reporting to the Senior Executive Director Asset Management.
• Monitor Leasing team performance and portfolio performance and risk with on-time, accurate, and compliant reporting monthly, quarterly, and annually.
• Develop strategic responses to performance gaps to meet or exceed targets, and escalate proposals to the Senior Executive Director - Asset Management.
• Analyze Residential Leasing operations, business plans, revenue performance, and marketing plans; consider strategic alternatives including budget, rental rates, growth, broker performance, and IRR.
• Provide input to internal reports to the Executive Committee for all assets in the sector portfolio.
• Collaborate with AM vertical leads (Retail, Hospitality, Residential) to optimize overall Qiddiya customer experience and asset performance.
• Collaborate with Residential and Sales Group Marketing to focus on revenue optimization and brand visibility.
• Perform other tasks as required with deliverables and deadlines agreed with the line manager.

Requirements

• Bachelor's degree in Real Estate, Business/Commerce, Marketing, Business Administration, or related field; Master’s degree preferred.
• Relevant Residential Leasing certifications and industry memberships/affiliations.
• Proven experience in asset management with a focus on residential leasing.

Experience

• 10+ years of experience in Residential real estate leasing, marketing, and sales management focused on Residential and Commercial assets.
• 5+ years in a leadership position with a strong understanding of residential markets.
• Experience in the MENA region is highly desirable.

Benefits

Comprehensive benefits package.