Senior Real Estate Manager

Job Description

Majid Al Futtaim invites you to join us in our quest to create great moments for everyone, everyday! We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 40,000 team members in 15 international markets representing over 100 nationalities ? all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.Role Purpose:The role of the Senior Real Estate Manager is to execute day-to-day operations of commercial properties and provide lease administration for commercial properties. This role will also Initiate work processes to enhance business growth and implement best practices, procedures and standards in real estateoperationsRole Details ? Key Responsibilities and Accountabilities:Planning & Delivery

• Prepare an expansion plan for the brands tasked for him to build a pipeline, and enter into negotiations with landlords to secure technical and financial offers for thee brands based on the preapproved criteria.
• Reviews the letter of offer upon request from the business development team and ensure the document is protecting the business unit in accordance with the key provisions set in the legal guidance note.
• Interacts with the assigned legal on the letter of offer necessary amendments and send to the business development business unit the executable document.
• Participates in commercial real estate discussions and negotiations from Time to Time.
• Reviews with the assigned leasing manager the highlighted potential risks to prepare the report to be distributed to the business unit, Legal and insurance department.
• Assesses the assembled legal and insurance comments with the leasing manager and send report to the business unit for approval and discussions with the landlord or developer.
• Meets the business unit prior to the meeting with the landlord to develop and agree on the leasing strategy to adopt while negotiating the terms
• Manage the team assigned for him/and directives give to give directives in accordance to the cascaded company strategy
• Work closely and homogenously with all co-workers in a teamwork sperate to create a healthy work envenomate in order to collectively achieve the KPIs set for each member, department and company
• Collects in track changes the landlord?s comments and requests to amend the lease and assist the

business unit on multiple rounds of negotiations.

• Tracks all points that require involvement and additional review from the legal or insurance departments to respond to the landlord and reach lease execution.
• Manages the tracking, coordination and reporting the lease status of any premises through its life cycle.
• Customizes template documents such as deeds of variation, deeds of surrender, deeds of extension, licenses and other property related documentation to ensure such documents incorporate all of the respective business unit?s desired commercial terms
• Drafts various standard and nonstandard notices required under leasing documentation (nonpayment letters, late payment letters, bounced cheques letters, late opening letters, etc.); and will be required to review and advise on various correspondences and letters with tenants, and licensees.
• Participates in various strategy and leverage meetings to ensure alignment of the various business units and their expansion plans
• Provide data for reports, showing a clear picture of the entirety real estate portfolio recommending actions and measures.
• Ensures accuracy of all contracts, legal agreements and the proper execution of all relevant municipality and government requirements.

• Maintains key relationships with internal and external stakeholders and oversees tasks assigned to the development management team.

Definition of Success100m+ in new investments annually with Project Value at 30m ? 120m per projectOther Context (if applicable):Travel required within the region, specifically within KSA.Performs any additional adhoc duties as and when required by the Line Manager and/or Head of Department.Functional/Technical Competencies:

• Proven expertise in real estate development management, program management, financial analysis, property appraisals, business analysis, financial modeling & real estate market dynamics.
• Strong understanding real estate development process, from project initiation, acquisition, to project structuring, design, construction, commission and operation.

Personal Characteristics and Required Background:Personal characteristics

• Excellent communication skills in English and Arabic.
• Exceptional communication and negotiation abilities with strong organizational skills and capacity to work under pressure.
• Excellent strategy formulation and implementation skills
• Demonstrated ability to achieve results and drive to succeed.
• People management experience, including managing a culturally diverse workforce

Minimum experience8+ years? experience of development management experience on major real estate development projects, primarily master planned retail, hotels and/or leisure businesses.Experience in the MENA property sector is highly desirable.Minimum Qualifications/EducationBachelor?s Degree in engineering, Construction Economics, Real Estate, Finance, Business Administrationor any relevant discipline.

Keyskills :