Head, Tenant Portfolio and Leasing Strategy
Talaat Moustafa Group
Total years of experience :19 years, 3 Months
My scope is to help the Management team to solve operational issues and create values in order to maximize growth, improve business performance and develop specialist skills along with identifying options and recommendations for change. In addition to developing Critical documents as listed below:
o Indicative Merchandising Mix Plan
o Leasing Process and contract signing Flow Chart
o Preparation of Legal/Technical Documentation
o Assisting in Preparation of Operation Documentation and Forms
o Given and crafting a solution of Effective Wayfinding and zoning identity
o Manage the portfolio within all Leasing and Property Management functions.
o Responsible for the performance and strategy of occupancy rates and monitor and driving their operational performance.
o Continuously analyze the market and identify opportunities to increase leasing performance.
o Identify ways to streamline property management performance and best practices
o The accurate completion of information and paperwork for tenants. (Database, turnovers, etc.)
o Accomplishes financial objectives by collecting rents, paying bills, forecasting requirements, preparing an annual budget, scheduling expenditures, analyzing variances, and initiating corrective action
o Preopening team responsible for monitoring the handover procedures are smoothly followed and in an efficient manner.
o Coordinated with the maintenance team to complete testing and commissioning of mall’s mechanical equipment and ensure the Operation and Maintenance Manual is handed over from the contractor.
o Attending local authorities’ inspection meeting for the issuance of building completion certificate i.e. Dubai civil defense, Dubai municipality, and DEWA.
o Launching security CCTV and Key control room, valet services, and car-park management system.
o Partnered with several team members to develop and launch Tenant Operation Manual inclusive of work permit and fit-out contractors monitoring and control.
o Contracting the service providers i.e. SFM and security team based on “performance base”
o Review Leasing concepts in terms of mall operation, manage existing income, ensure earnings stability, and identify and implement opportunities for new streams of income through the development and management of retailer relations.
o Developing leasing rate card and establishing units inventory report
o Manage and lead the operating, capital, development, and revenue budgets.
o Setting up the Tenant Mix strategically in consideration of the customer demographic and neighboring properties,
o Negotiating commercial terms of the Lease Agreement
o leasing program and budget forecast
Dubai:
City Land Mall - Al Khail Road (Regional Mall)
First Avenue Mall - Motor City (Community Center)
Ajman:
Citylife Tallah, Citylife khour, Dana Mall (Community Centers)
My portfolio consists of managing over 650 retail units across various projects in excess of GLA 150, 000.00 SQM spanned across the following projects in Dubai and the North Emirates.
o My portfolio consists of 5 malls across various projects within UAE in excess of GLA 150, 000 sqm
o Manage and lead leasing program and budget forecast in order to maximize malls profitability with the most desirable and productive long-term lease tenants/operators.
o Formulating, updating, and maintaining Tenant Mix of each Mall
o Creating tenant profiles and accurate databases for each tenant category
o Negotiating commercial terms of the Lease Agreement
o Manage and lead leasing program and budget forecast
o Develop and execute short-term leases (150 specialty leasing units) budget and business plan
o Provide potential tenants with a tour of the Mall highlighting the valuable features of the building in order to convince the retailer and influence lease
o Assist in developing the leasing kit with the support of the marketing team.
o Identify underperforming retailers and develop appropriate strategies to address and action
Malls:
The Dubai Mall - The Dubai Marina Mall
Community Centers:
Souk Al Behar - Arabian Center - Springs Village - The Greens
o Full accountability of Emaar Malls Group Specialty Leasing function with a portfolio of 1000+ retail and promotional units across The Dubai Mall, Dubai Marina Mall, and Emaar’s Community Centers
o Set leasing initiatives and goals
o Develop and review the Specialty Leasing Analytics Reports and draw conclusions, make recommendations and execute on what the teams should focus their attention on to maximize the effectiveness of their workflow.
o Maintains awareness of market/industry conditions and trends.
o Analyzes market leasing performance and creates plans to overcome shortfalls.
o Ability to lead Leasing Teams that motivate and deliver results.
o Developing valuable tools for the department Such as Rate Card, Coded floors map, design guideline, and promotional activity atrium and 3x3 guidelines.
o Regular department KPI’s review meeting for projected budget and YTD revenue and present recommendation to improve the result in line with projected budget.
o Review and present weekly leasing status, account receivable, late opening penalty, R2S ratio, TOR report to the GM and Leasing Committee.
o Fully accountability of The Dubai Mall Guest Services Organization.
o Administered all services and ensured optimal levels of customer service and satisfaction.
o Managed guest services team and operational departments.
o Ensured compliance to various standards and managed work accordingly.
o Analyzed shoppers and retailers reported issues, took permanent corrective actions accordingly.
o Monitoring and operating business & the staff of Customer Care, Handover and Property Transfer
o Weekly and monthly one-on-one meetings and KPI reviews. Business forecast reviews with a plan of action to resolve issues.
o Responsible for operations & compliance, initiating, coordinating, and enforcing policies & procedures