Job Requisition ID: 139821
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 Arab 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 organization 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
To manage Leasing activities of all Al Futtaim Retail Brands in their expansion while maintaining relationship with all of our Landlords with regards to the contractual obligations as per the lease across MENA
What you will do
- To coordinate with respective business analysts, finance and ensure that all rental payments as per the lease agreements are processed on time and disbursed accordingly.
- To work closely with Group Administration and retail operations of each brand to process new trade licenses and timely renewal of existing trade license, chamber of commerce certificates etc for all of our retail stores.
- To serve notices on due dates to Landlords and coordinate with Finance and arrange audit reports (confirmation of Gross Sales) from external Auditors and furnish the same to the respective Landlords on a timely manner.
- Evaluates leasing opportunities received from prospective Landlords / Developers, obtains all relevant information, to discuss the same with Head of Leasing and if satisfied to do feasibility for Management’s approval
- Negotiates commercial terms (based on the guide lines) for kiosks, shop in shops and line shops for various retail brands and gives recommendation to Head of Leasing
- Works closely with the Group Legal to review the documents (Agreement to Lease, Lease Agreement etc), communicate the comments and negotiate the document with Landlords.
- Ensures accurate filing of all information and agreement, so as to enable the company to refer to it in its relationship management with respect to rent payment, renewal, extension, transfer as well as to serve as a point of reference in case of any litigation
- To provide timely reports to the Management on occupancy cost, month wise cash flow planning and many other KPIs.
- To coordinate between the Landlord and Store Development Team for a smooth functioning of fit out of retail stores
Required skills to be successful
- Administrative Skills: Is able to manage information and all documents related to Lease Agreements in a systematic manner; is organised; and has the ability to handle multiple tasks whilst maintaining consistency and accuracy.
- Policies and Procedures: Is fully aware of the legal requirements; terms and conditions related to Lease Agreements, and coordinates to ensure tenant’s compliance to Company’s policies relating to the same. Also advises and guides others on such issues accurately.
- Financial skills: Has a basic financial skill, so as to manage all financial information related to lease agreements. Should be able to prepare relevant documents relating to lease proposals, offers and counter offers.
What equips you for the role
- Should possess a degree in any discipline, preferably in accounts/ commerce
- 3 + years’ experience in handling administrative aspect of leasing in a property development or a real estate company, would be highly advantageous.
About Al-Futtaim Retail
Al-Futtaim Retail has established itself as one of the leaders in Retail across the Middle East, Africa & Asia over the past 30 years. We have developed partnerships with some of the biggest and most respected Brands in the world including IKEA, ACE and Toys R Us in the Middle East and the Inditex Group of Brands (Zara, Mango, Bershka and P&B) across Asia. We are also one of the largest Global partners of Marks and Spencer’s in both regions with over 75 stores offering both fashion & food options.
Most recently we have been responsible for bringing brands to the Middle East for the first time with the exciting launches of Watsons and B&Q and we aim to continue to be agile and adaptive to our markets with new launches and further development. For this to be possible we aim to recruit the best talent from all backgrounds who will continue to challenge and develop our diverse workforce which includes over 100 nationalities across 12 countries. Join us today and make a difference…
About Al Futtaim Private Company LLC
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 we are now 42,000 people strong.