Director - Residential Leasing - Asset Management - 20005467 CDU8

Overview:

As part of its development of Qiddiya City, Qiddiya Investment Company (“QIC”) the Director – Asset Management Residential will lead a team and collaborate with other internal and external professionals to optimize the performance of the assets, minimizing risk with the QIC corporate framework and Qiddiya City objectives.

Their Accountabilities Include:

a)    Adopting an ‘Owners Perspective” the Director AM Residential Leasing is Responsible for providing our development colleagues, through the stage gate process, with insight and perspective as to, target market identification, design and fitout applicability to target market, marketability, pricing, and absorption.

b)    Preparing a Multiple broker network strategy. Tailored to the specific positioning of each residential stage and release.

• Regional focus with high visibility within the GCC market – UAE & International E.g. Sotherbys / Christies / Savills.
• Local broker network – Dedicated local sales manager and team to incentivize and manage the network within the KSA and other similar strategies throughout the sales team

c)     Establish an Experienced multilingual Leasing team with extensive market knowledge from the GCC, UAE and KSA markets.

• Project Leasing with both off-plan and secondary market expected.
• Clear understanding & experience of institutional & investor leasing
• Existing established personal network of brokers, agencies within the region network.

d)    Input into designing a Commission structure that will be highly attractive to motivate & attractthe specialist leasing experience– competitive to UAE development leasing commission offering, and current KSA commission offering.

e)    Initial Phases are potentially forecasting a high number of external broker leasing deals to drive the enquiry and leasing ratesuntil the position of the residential market and on-site enquiry is established.

f)      Adopting an ‘Owners Perspective” , the  Director AM Residential Leasing will work with the CDU sales and leasing marketing teams to ensure  operational readiness for the Leasing Launch.

g)    Achieving optimum financial and revenue performance for Residential Asset and the overall Residential portfolio, contributing positively to the target return on investment and achieving long-term sustainable return.

h)    Contribute to Delivering QIC’s ESG vision and commitments for Residential assets.

i)      Maximizing the value of their QIC BTR portfolio.

Director AM Residential Leasing : will work “hand-in glove” with the Qiddiya Residential Property Management team. Assisting the Residential Property Management teams to deliver the openings and ongoing operations of each resi asset.

Responsibilities:

• Assist in and contribute to developing and implementing the Asset Management Framework for (Residential ) assets in Qiddiya including setting, monitoring and periodically refining a (Residential) Asset Management Strategy (“ResiAMS”) that delivers on financial performance metrics and drives operational efficiencies for long term sustainable growth. Incorporating but not limited to the following:

Financial Metrics/ Targets:

• NOI/EBITDA, Operating Margin, Revenue per unit, Leasing cost per transaction; Renewal and retention rates, Cash Flow Management, and IRR.

Tenant /Leasee Metrics /Targets

• Customer Experience, Customer Satisfaction, Profitable NPS scores. Customer Safety Compliance, Exceptional Service Quality.

Operational Efficiency Metrics And Targets:

• Pre leasing; minimization of downtime, rates per meter, rates per dwelling type;

Assist in designing the Asset Management (Residential Leasing) team structure and implement hiring and onboarding in accordance with the ResiAMS.

Have input into and implement Qiddiya Asset Management “Residential” Specific operational policies, standards and KPI’s for (Sector) assets.

Support and assist with the negotiation, execution, and management of any additional contracts, service agreements, consultancies in conjunction with the Qiddiya Strategy and Development teams across the ResiAM portfolio.

• Working in a supportive and collaborative manner with the various Operational Readiness teams, ensuring smooth delivery of the all pre-opening activities.
• Develop strategic relationships with all Residential Sales Team, to ensure coordination between Residential BTS and BTR teams.
• Oversee all Residential Leasing activities and portfolio reporting to the Senior Executive Director Asset Management.
• Continually monitor and analyze Leasing Team performance and Leasing portfolio performance and risk across all target KPI’s. with 100% on-time, accurate, and compliant reports monthly, quarterly, and annually.
• Develop and implement strategic responses to performance to ensure targets are consistently and reliably met or exceeded, and continually review for optimal performance outcomes. Develop strategic responses to any negative deviations from KPIs and escalate proposals to the Snr Exec Director – Asset Management.
• Analyzing Residential Leasing operations, business plans, and revenue performance, Sales & Leasing marketing plans and strategic alternatives. Including but not limited to:

1. Budget Performance
2. Rental rates
3. Rental growth
4. Broker Performance
5. IN house Leasing Team Performance
6. Leasing impacts on IRR
7. Operation efficiency targets

• Formulating and make recommendations to the Snr ED and required stakeholders for short and long-term strategic asset plans.
• Research and remain close to all markets affecting the (Residential) and specifically the markets in which the assets are situated, including supply and demand changes and trends.
• Analyze retail sector market trends, customer preferences, tenant demand and supply factors, and integrate findings into portfolio strategies.
• Work with Residential Asset Management to Examine and monitor the operating performance of the assets to ensure the return on investment in each asset is maximized.
• Lead quarterly Residential Leasing business plan reviews and annual portfolio strategic reviews.
• Identify value-enhancement opportunities through repositioning, redevelopment, or strategic partnerships. Develop strategies to implement with associated ROI, commercial and strategic outcomes.
• Work with AM Finance Function to Monitor and analyze return on investment for the assets as well as profit improving projects, either implemented or proposed.
• Provide input to monthly, quarterly and annual internal reports to the Executive Committee for all assets in the (Sector) portfolio.
• Engage and collaborate with other AM Vertical leads (Retail , Hospitality, residential) to optimize overall Qiddiya customer experience, extract operating initiatives and synergies and asset performance including event management, security, transportation, marketing and communications, packages and pricing etc.
• Collaborate with Residential and Sales Group Marketing. With a clear focus on revenue optimization, Market Presence Enhancement, Enhancing Qiddiya Brand visibility and Engagement.
• Other tasks as required, as assigned with clear deliverables and deadlines agreed with the line manager.

Requirements

Qualifications:

• Bachelor’s degree in Real Estate, Business/Commerce, Marketing, Business Administration, or related field; Master’s degree preferred.
• Relevant (Residential Leasing) certifications and industry memberships/affiliations.
• Proven experience in asset management with a focus on residential leasing.

Years Of Experience:

• 10+ years of experience in Residential real estate leasing marketing and sales management focused on Residential and Commercial assets.
• 5+ years in a leadership position with a strong understanding of residential markets.
• Experience in MENA region is highly desirable.

Benefits

Comprehensive Benefits Package