Manager, Asset Management

ROLE DESCRIPTION (level dependent on portfolio complexity)

Role Purpose:

The position is primarily responsible to ensure the execution of the asset management agenda across designated geographies is delivered. This is achieved through the building of the strategic plan in accordance with the strategy of MAFH, MAFP and SMBU.

While the Regional Managing Director is responsible for leading and directing all strategic and operational activities for SMBU across the designated portfolio, the role will support the asset management lead in monitoring performance and ensuring that key initiatives are being driven in alignment with the Regional Managing Director.

Role Details – Key Responsibilities and Accountabilities:

• Accountable for maximizing the overall economic value through execution of the strategic asset plans.


• Provide relevant inputs to development projects on operating assets while ensuring real estate best practices are applied e.g. coordinate with leasing leads formulating target tenant mix based on market positioning.


• Track and drive performance of the development projects on operating assets while ensuring lessons learned are tracked and accounted for in new projects.


• Work with the Strategy and Asset Management Leads to create development briefs ensuring product alignment to consumer and customer requirements in a manner that is financially viable.


• Work with the Strategy and Asset Management Leads to drive the annual Asset Plans, incorporating the executional roadmap for all outlined initiatives.


• Be part of a cross-functional team for operating assets to implement asset-level strategic plan, ensuring cross-functional coordination to maximize asset value.


• Act as the translator of business insights into an actionable roadmap for regional team execution.


• Review asset-level annual budgets for Marketing, Leasing and Shopping Center Management and ensure alignment with strategic plan.


• Approve relevant contract adjustments, leases, renewals, and re-tenanting depending on their value.


• Work with the Strategy Lead to develop the research requirements for the assigned portfolio.


• Conduct regular performance monitoring (e.g. rent recovery, footfall, turnover, sales, etc.) for the assigned portfolio.


• Work closely with the Finance / Regional Teams (for assigned portfolio) on supporting Quarterly Forecasting and ensuring all leasing budgets are assigned under the agreed upon framework.


• Support Regional Leasing Teams in the preparation and structure of leasing deals prior to approval process.


• Embed CAPEX framework in business cases and monitor CAPEX spend vs requests and ensure reporting in collaboration with the asset control team.


• Provide inputs for valuation team in Corporate Finance.


• Support in drafting any amendments to the policies, procedures and DOA as required.


• Lead the build-up of operational risk register in the region together while ensuring clear mitigation and ownership strategies are in place. Monitor and report as required through finance and Majid Al Futtaim Properties to the Audit Risk Committee.


• Ensure compliance with the MAFP SMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all times.


• Be the advocate and ambassador of aligning and cascading the MAFP values in the assigned area of responsibility and ensure that relevant team adhered to and exhibit the same all the time.


• Build the capability of staff reporting into by providing on time regular feedback including annual review on performance and identify areas of improvement / reinforcement for further development.


• Manage, guide and mentor the Asset Management team reporting into and take full responsibility in identifying potential talent and timely supporting professional development.


• Lead by example – thrive to create an honest and open work environment where individuals collaborate /support each other as a team and are passionate to achieve a common business objective.

Disclaimer: This role description reflects the general details considered necessary to describe the principal responsibilities of the role identified and shall not be construed as an exhaustive description of all the work requirements inherent to success in the role.

Definition of Success

TBD

Other Context (if applicable):

TBD

Functional/Technical Competencies

Asset Management, Strategy, Leasing, Marketing, Development, Property Investment business & commercial acumen and operational excellence

Personal Characteristics and Required Background:

Personal characteristics

• Excellent organizational and interpersonal skills. Able to communicate clearly and effectively to a wide range of stakeholders. Ability to work effectively as part of a high performing team

Minimum Qualifications/education

• Master’s degree in Real Estate / Business Administration / Finance or equivalent. Professional qualification e.g RICS, CFA

Minimum experience

Minimum 5 years of progressive experience in managing all aspects of Asset Management function in a highly dynamic organization, preferably Retail / Real Estate in GCC or abroad with at least 4 – 8 years in a similar role.

Signature of Role Holder:

Approved By

Head of Division/Department/Sec:

Head of Human Capital: