Job Opportunity in Egypt at Al Futtaim: Retail Leasing Manager

Al Futtaim is offering a job opportunity for Egyptian nationals as a Retail Leasing Manager to join the team in Cairo for 2021. 

Planning:

1. Prepares and implements renewal leasing plans and tactics to support the overall Leasing strategy. 
2. Advises Leasing Team of upcoming vacancies due to non-renewal of existing tenants.

Market Intelligence: 

1. Researches market in terms of current demand, customer preference, types, size, and location of the properties. 
2. Where possible, obtains information on competitors pricing policy, property specifications to revamp the company pricing policy, strategies and tactics to effectively position the property against the competition and enhance market share. 
3. Liaises with external consultants for additional insights into the above information and for formulation of ERV schedule by externally appointed consultant on six monthly basis.

Targeting Existing Customers: 

1. Prepares schedules showing lease expiry profile on annual basis. 
2. Prepares proposals at rates in line with budget/ERV for communicating to tenant in order to ensure renewal of lease contract in timely manner. 
3. In case of Retail tenants, prepares exit strategy if brand is not considered in line with agreed Retail mix. 

Term Negotiation:  

Negotiates and finalises lease terms in line with prevailing SOP’s, Budgets, DOA’s and any other conditions required by the business

Legal:

1. Arranging Documentation: Ensures that all documentation is correctly prepared in accordance with the SOP (LAF/LCA, Lease Contract etc.) and is signed by the authorized person as per the DOA in order to avoid any litigation in future and to serve as a point of reference.  
2. Maintains awareness of local legal procedures and practices, ensuring that these are upheld and/or not contradicted in lease terms.

Asset/Property Management: 

Ensures that the lease agreements are renewed in time and changes in terms and condition of rentals are correctly recorded and the rental is collected in time and in full so as to avoid any loss of money or dispute with the tenant.

Financial Data Entry and Maintenance:

1. Ensures all lease contract information is accurately recorded in REFX system, including all new leases, amendments, terminations, etc. across AFGRE portfolio (Residential, Commercial and Retail). 
2. Liaise with Finance and STS departments to ensure information accurate, complete and correctly formatted in order to generate meaningful reports from the SAP system.

Financial:

Liaises with Credit Control Department on AR status, follows up with tenants for outstanding payments, finalising statements of account and preparation of payment plans.

Analysis and Reporting:

1. Progress Reports: Prepares progress reports on weekly/monthly/annual basis as appropriate, on the current status of the business; comments on assessment of future market trends and prospects and propose measures and strategies to achieve or exceed the projected target.
2. Budgeting: Evaluates historical performance, and market information on future market trends, to arrive at a rational budget projection both in terms of units and revenue so as to contribute effectively in meeting company’s overall objectives set for the year. Prepares Retail budget based on foregoing.
3. Budget Review: Reviews the actual performance against budget on regular basis to ensure that projected units and revenue target are being achieved, in case of a short fall examines the reasons and take corrective measures to bring it back on target.

1. Degree or equivalent level of education in any discipline.
2. 6 – 8 years as a Leasing professional of which 3 years should be at managerial level.
3. Sound knowledge of Leasing market and practices in local market.

Behavioural Competencies:

Research, insights & analysis:  

Obtain & analyse information through effective intelligence gathering systems and interpretation of results.

Strategy & planning:  

Influence strategy formulation and ensure an effective leasing planning process and plans.

Products:  

Create, build and manage competitive products, portfolios & services.

Leasing programme implementation:

1. Create competitive and sustainable pricing policies, use pricing strategically and creatively.
2. Establish and develop effective channels for your business and support for channel members.
3. Deliver and manage effective customer relationships and infrastructure for same.
4. Establish, plan and manage programme and project frameworks and plans against objectives and budget.

Measuring effectiveness:

1. Establish, promote and use metrics to improve effectiveness .
2. Create and use a system of critical review to make more informed future decisions.

Managing people:

1. Manage self and an Asset Management team.
2. Manage cross-functional relationships effectively.
3. Develop teams and self to enhance department’s performance.

About Al Futtaim:

Al-Futtaim’s family business traces its origins back to the 1930s on the banks of the Dubai Creek, a trailblazer for innovative trading concepts designed to enrich lifestyles. Today, Al-Futtaim is present in 29 countries, represents over 200 companies spanning the automotive, finance, retail, and real estate industries, and it is now 42,000 people strong. Currently spanning the automotive, finance, retail, and real estate industries, Al-Futtaim’s diverse and far-reaching portfolio of brands and companies are ever-present in people’s lives, from the shores of Singapore to the sands of the UAE.

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