Senior Manager - Retail Development | Real Estate | Asset Development

Job Requisition ID: 168535 

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United A”rab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate. 

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.

Overview of the role:

It is a crucial role in overseeing and managing the development of real estate projects from conception to completion, with responsibility for the complete project development process. It involves working closely with various stakeholders, including finance, marketing, asset management, design, project delivery, to ensure successful asset development within established vision, timelines and budgets.

What you will do:

• Develop and implement strategic plans for real estate development projects aligned with the organization's strategy.
• Determine the optimum land use and define each project vision based on market research and macroeconomic analysis.
• Prepare Development Briefs and Reports including identification of opportunities/risks; site conditions; outline project/stakeholders’ requirements; Financial Aspects, cost estimates and anticipated revenues; market studies; range of consultants and others to be engaged for the project; project feasibility studies and appraisals; funding options; project timeframe; proposed future actions and recommendations.
• Prepare and obtain different documents required for the preparation and approval of Preliminary, Investment, and Project Budgets by different stakeholders in compliance with AFGRE policies and procedures.
• Establish and oversee a budget for the Projects, ensure that Target KPIs (Sales Development Margin, NPV & IRR) are maintained, and lead necessary actions to mitigate any impact on project KPIs or enhance current KPI.
• Obtain information on project costs and anticipated revenues; communicate information to different teams to prepare Feasibility Business Cases.
• Lead the preparation for Sales and Leasing Committee meetings and advise, as a main member of the committee, on the sound pricing & sales strategies after performing necessary sales & market analysis
• Regularly engage with the Leasing team, updating on progress and establishing any design requirements for occupiers, both generic and for a specific prospective tenant.
• Define & identify Unique Selling Points of different real estate products and ensure these USPs are met in the design and ensure that the intended messages about the CFC brand and products are effectively communicated by the marketing activities providers.
• Monitor performance; report on development; review programs; and confirm cost and program compliance with business cases, and present designs to ensure adherence to time, cost, and quality requirements.
• Monitor and report on adherence to signed-off design during construction & manage non-compliance/defect resolution.
• Actively manage project administration, including RFI process and client-driven options and instructions, to minimize negative impact on program, cost & specification and optimize unforeseen opportunities.
• Ensure that as-built information is produced in accordance with the building contract.
• Provide regular and comprehensive updates to senior leadership on project status, risks, and opportunities.

Required Skills to be successful:

10 years of experience with at least 8+ years of experience in large-scale/complex mixed-use real estate developments.

What equips you for the role:

• Bachelor’s degree in Architecture, Civil Engineering, or Construction Engineering.
• Experience of retail-led, mixed-use commercial development across the development cycle
• Experience in managing complex refurbishment projects in a continuously operating environment.
• Strong financial acumen and the ability to analyze and structure complex financial deals.
• In-depth knowledge of local and regional real estate markets, regulations, and industry trends.
• Exceptional communication, negotiation, and interpersonal skills.

About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years. 
Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.

About Al-Futtaim Malls 
Al-Futtaim Malls provides development and asset management expertise, specializing in building retail-led super regional malls in prime locations across MENA and beyond. With a proven track record of creating both sustainable revenue growth and value enhancement for tenants, Al-Futtaim Malls delivers exceptional experiences and exciting shopping environments for customers. 

Part of the Al-Futtaim Group, Al-Futtaim Malls leadership team brings more than 30 years of experience and a deep understanding and knowledge of the retail sector, both from a shopper’s point of view but as curators of space or landlords to other brands. The company has a directly managed portfolio including over 9 million sqft of retail space across four malls in the MENA region and two under development. Malls under the Al-Futtaim Malls portfolio include Dubai Festival City Mall and Festival Plaza in the UAE, Cairo Festival City Mall in Egypt, Doha Festival City in Qatar and Zenata Mall, Morocco.

Leveraging on the expertise of its parent company, Al-Futtaim Malls established PLEX Management Services offering a full array of services including asset management and development, leasing, and brand experience expertise to shopping mall landlords and retail organizations globally. Implementing global best practice and deploying Al-Futtaim Mall’s deep understanding of mall management and retail dynamics, PLEX promises to deliver continuous growth and long-term value for its partners.

For more information on Al-Futtaim Malls, please visit https://www.al-futtaimmalls.com/