Senior Vice President – Asset Management (Retail)

Role Overview

Senior Vice President – Asset Management (Retail) at Aldar Properties. The role oversees implementation of retail strategy for owned and third-party assets, with full P&L accountability for assigned properties.

Role Purpose

Oversee the implementation of retail management strategy across assigned retail assets, own detailed P&L statements and financial performance, and drive growth through asset optimization, development delivery, and strategic investment decisions.

Key Responsibilities

Financial Management & Analysis

• Own detailed P&L statements for each assigned asset, consolidating financials for combined assets and submitting to the Head of Asset Management and Operations for review.
• Conduct in-depth financial analysis including IRR, ROI, and ROE on underperforming assets or potential acquisition opportunities.
• Support go/no-go decisions on asset disposals based on feasibility studies.
• Ensure financial targets are met through effective strategies including rent pricing and tenant mix optimization.

Asset Performance & Operations

• Work closely with the Property Management Head to recommend, track, and monitor monthly operational and financial targets for each asset.
• Identify opportunities for improvement and recommend mitigation actions when needed.
• Co-define and monitor asset performance and customer satisfaction KPIs, collaborating with teams such as Retail Leasing to meet targets.

Strategy & Market Analysis

• Provide inputs to the Executive Director of Asset Management in developing cross-retail asset strategies, determining rent pricing, and setting leasing and tenant mix.
• Analyze market trends to maximize profits and identify emerging asset investment opportunities.
• Drive the company's growth initiatives through proactive investment and development opportunities.

Development & Transformation

• Manage the delivery of assets in the growth pipeline including new development and transformation projects.
• Build the pipeline of retail assets based on the business plan and coordinate with the Development Management team for timely delivery.
• Build the business case for transformation of existing assets and oversee design and delivery of projects on time and within budget.

Acquisition & Integration

• Conduct market studies for potential acquisitions and coordinate with the investment management team for process completion.
• Manage post-acquisition integration activities.

Strategic Disposal

• Perform in-depth financial analysis on assigned underperforming assets and recommend for asset disposals.

Qualifications & Experience

• Minimum 12+ years of related experience in managing retail asset properties with annual revenue in excess of AED 1 billion.
• Minimum 4+ years of experience in a similar managerial position.
• Experience in retail management including malls and community retail.
• Strong exposure to GCC real estate market.
• Experience in Property Management and respective remedial auctions.
• Bachelor's degree in engineering, business, or economics.

Skills & Competencies

• Excellent analytical skills.
• Planning and organizing skills.
• Demonstrated skills in building and maintaining strong relationships with internal and external stakeholders.
• Excellent negotiation and persuasion skills.
• Excellent conflict resolution and management skills.
• Excellent communication and interpersonal skills.
• Excellent relationships with major Middle East regional retailers.