Senior Commercial Leasing Manager
Al Futtaim
مجموع سنوات الخبرة :10 years, 6 أشهر
Actively managing a mixed commercial portfolio in Dubai Festival City; assets include two international schools, eight automotive showrooms, office tower, retail units and development land.
Total managed portfolio exceeds 3 million Sq Ft in gross lettable area, with occupancy achieved of circa 90% by 2015 year end.
Reporting to Regional GM of Leasing and the CEO to provide on-going updates on leasing progress for all assets together with initiatives to maintain and improve the revenues generated.
Working closely with the investment and projects departments to review new opportunities to expand the commercial portfolio in Dubai Festival City. Key project achieved in 2015 was the finalizing of a new auto-mall facility to be developed on a vacant land plot.
Responsible for all commercial leasing negotiations with internal Al Futtaim companies and 3rd parties.
Reporting to the CFO together with the Head of Business Development to provide regular updates on the leasing progress of the Media Zone, a development of five retail and commercial properties with a total leasable area of circa 550, 000 Sq Ft. Latest occupancy for the five properties is in excess of 90%.
Negotiating with local and international third parties looking to establish their operations in Abu Dhabi, often as a base for the wider GCC. Acting as the in-house leasing representative to negotiate the lease terms with new clients, together with providing advice to senior management regarding the acceptance or rejection of such commercial deals.
Drafting of Lease contracts and supporting commercial documentation, where required these are reviewed with solicitors and agents to ensure both parties are satisfied with the final terms.
Initial task was to implement significant changes to the leasing process in order to streamline and improve the introduction of new companies to the Media Zone. This was achieved by educating the Business Development Team in methods of lease negotiation and highlighting key aspects of the development to discuss when approaching prospective tenants.
Working alongside the in-house legal department to improve the standard documents issued by twofour54, bringing the lease and supporting documents in line with international standards.
Producing reports on the Abu Dhabi real estate market, primarily the office sector, to assist with objective setting and agreeing rental levels for the Media Zone. Rates being achieved are on par with the wider market, in most cases the agreed rates are above market.
Key tenants with whom I have worked in the Media Zone include Apple, Fox, Sky News, Ubisoft and Bloomberg.
• Reporting to the Regional Head of Corporate Real Estate providing an overview of the banks property portfolio of circa 80 locations within the UAE, including retail branches, front and back office locations.
• Acquisitions on behalf of HSBC identifying new locations prior to negotiating lease terms and issuing recommendations based upon prevailing market conditions. Premises required would vary significantly from retail sites of 1, 500 Sq Ft to office premises in excess of 200, 000 Sq Ft.
• Asset management of the existing portfolio; lease renewals and surrenders, sourcing new commercial sites, financial reporting of projected revenues and expenditure, reviewing amendments to relevant local legislation.
• Recommendations to proceed with a new acquisition would be supported with detailed business cases highlighting financial returns, anticipated expenditure and marketing implications.
• Providing real estate reports and commentary relevant to the client’s needs and objectives for the mid - long term.
• Travelling to the regional offices to assist on new acquisitions and management of existing portfolios. Reporting to the UAE real estate team on planned disposals & acquisitions of commercial space within the Middle East portfolio, requesting assistance where required to complete a project on time and within budget.
• Liaison with 3rd party service providers, such as letting agents and facilities management contractors on behalf to maintain and improve the existing portfolio.
• Commercial Leasing of the Bahrain World Trade Center, representing the landlord during tenant negotiations. The development is a twin tower, 500, 000 Sq Ft development of Grade A office space that was let to leading international companies looking to expand their GCC presence.
• Retail agency for Bahrain World Trade Center development, specifically pre-leasing of Moda Mall. Negotiations were undertaken with regional and international companies, the retail destination totaled 165, 000 Sq Ft with over 150 luxury retail outlets. The mall was 100% pre-let prior to opening in mid 2008, key tenants included Prada, D&G, Louis Vuitton and De Beers
• Consultancy duties for commercial projects within Bahrain and the GCC, specifically assignments in Dubai, Abu Dhabi and Kuwait. Feasibility and market reports were produced for landmark developments in Bahrain.
• Leasing of residential and commercial properties within Bahrain, rent review and negotiation. The objective was to maximize revenue and achieve an occupancy level above 90%.
• Initial responsibilities focused upon property management, working on a portfolio of 200 residential units and commercial properties encompassing 300, 000 Sq Ft owned by the Bahrain Royal Court.
• Valuation work for national and international clients, producing reports for existing developments and also speculative projects. Collation and quantitative analysis of data for these reports was undertaken and reported to the Director of Valuations.
• Key clients included: RBS, JP Morgan, Bahrain International Circuit, Unicorn Investment Bank.