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Commercial Head of Retail (Leasing & Rental Management)

5.00 to 15.00 Years   Riyadh, Saudi Arabia   03 Jun, 2022
Future Careers Middle East Freezone LLC
1 Jobs Openings
Job LocationRiyadh, Saudi Arabia
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryReal Estate
Functional AreaNot Mentioned

Job Description

Our client one of the fastest-growing real estate and property developers in the kingdom, is hiring a Commercial Head of Retail with proven expertise in Leasing & Rental Management.Based out of their Riyadh corporate office, and Reporting to the VP-Operations you will be responsible for managing all leasing activities, including renewals, in respect of the strip mall portfolio with a view to maximizing rental income and improving the retail mix to enhance appeal to customers and ensure long-term profitability. Identifying and developing policy and procedures for efficient revenue collection, rental management, lease administration, and the tenant relation function to establish and maintain best commercial practices and enhance standards of control.

  • Negotiate all renewals with a view to securing long-term leases.
  • Recognize underperforming tenants.
  • Identify new prospective tenants..
  • Generate new leasing leads and negotiate qualified deals from inception to final execution.
  • Understand and creatively make use of mall performance data in negotiation to achieve the best terms.
  • Proactively market the portfolio to achieve agreed occupancy targets for all malls.
  • Agree all ?Heads of Terms? in writing with tenants and liaise with both Rental Management and Retail Delivery to ensure smooth lease processing and fit-out.
  • Collaborate with other Departments for the improvement of tenants? performance and satisfaction.
  • Contribute to the budgeting process to set ambitious but achievable targets in respect of revenue, occupancy, escalation, lease length etc.
  • Monitor performance against budget and update forecasts as necessary.
  • Understand tenant business models and seek to secure sales data as part of the lease terms wherever possible.
  • Maintain a good knowledge of long-term market trends and ensure that opportunities with new brands and fast-developing sectors
  • Develop and maintain productive relationships with both prospective and existing tenants
  • Ensure renewals are completed well in advance of the contract end date.
  • Establish a roster of attractive potential tenants for all assets.
  • Ensure that all lease deals are for a reasonable duration.
  • Oversee the conduct of tenant survey program on a semi-annual basis.
  • Periodic meetings with major tenants, to keep and maintain the best relationship with the Property Management.

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