Director - Residential & Commercial | Real Estate | Asset Management

Job Requisition ID: 181905 About Al-Futtaim Established in the 1930s, Al-Futtaim is one of the most diversified and progressive privately held regional businesses, headquartered in Dubai. Operating across more than 20 countries, the Group spans automotive, financial services, real estate, retail and health. With more than 40,000 employees, Al-Futtaim represents over 200 of the world’s most recognised brands, including Toyota, Lexus, IKEA, ACE and Marks & Spencer. Driven by its purpose to enrich lives and elevate communities, Al-Futtaim focuses on digital innovation, AI, sustainable growth and strategic partnerships, creating long-term value for customers, communities and partners while building a responsible legacy for future generations. Overview Of The Role: The Director – Resi Comm+ is responsible for leading the strategic and operational performance of Al-Futtaim Real Estate’s residential and commercial portfolio, driving asset value growth, revenue optimization, and tenant satisfaction. The role oversees asset management, leasing, tenant mix, service charge governance, and capital improvement initiatives while ensuring sustainable financial performance and effective stakeholder management across the portfolio. What You Will Do: Strategic Asset Management & Portfolio Planning - Develop and execute asset strategies tailored to DFC and AFRE's residential and commercial assets, aligned with long-term financial goals and investment mandates. - Drive annual business planning processes, performance benchmarking, and asset repositioning strategies across all asset classes. - Increase in Net Operating Income (NOI). - Delivery of approved annual and 5-year asset plans. - Asset valuation growth based on external and internal benchmarking. P&L Accountability - Manage the full profit and loss statement of each residential and commercial asset, including income, cost controls, service recovery, and profitability tracking. - Drive the creation of asset-level budgets, forecasts, and capital expenditure plans in collaboration with Finance. - Ensure budget compliance and variance control. - Meet or exceed revenue targets across the portfolio. - Timely and accurate reporting of monthly and quarterly financials. Residential & Commercial Leasing Strategy - Lead commercial leasing initiatives across retail and office segments in DFC and ARE projects, ensuring optimal occupancy, market-aligned rents, and long-term tenant satisfaction. - Define and monitor the residential leasing and sales strategy with a focus on tenant retention, unit absorption, and product-market alignment. - Maintain high occupancy rates by asset and segment. - Achieve renewal success rates and churn reduction. - Optimize average rental yield and tenant mix. Tenant Relationship & Community Management - Serve as a senior point of contact for VIP tenants and commercial lease partners. - Establish and act upon tenant feedback loops to support tenant retention and service excellence. - Achieve high tenant satisfaction and net promoter scores (NPS). - Resolve tenant issues within agreed service level agreements (SLAs). - Secure long-term lease renewals of strategic tenants. Property and Facilities Management Oversight - Oversee the performance of in-house and outsourced facilities management teams, ensuring assets meet operational KPIs, health and safety standards, and maintenance SLAs. - Align operational services with asset class needs, tenant expectations, and cost-efficiency mandates. - Ensure AMC contract compliance and SLA delivery. - Monitor downtime metrics for critical systems such as HVAC and elevators. - Enhance service issue resolution and preventive maintenance scores. Capital Projects, Lifecycle Planning & ROI Management - Lead planning and execution of major capital improvements, refurbishments, and lifecycle upgrades across all properties. - Prepare business cases for Capex approval, tracking performance through KPIs and ROI metrics. - Ensure timely and on-budget delivery of capital projects. - Achieve positive ROI on Capex investments. - Improve building quality and asset competitiveness. Service Charge Structuring, Recovery & Transparency - Oversee the development and auditing of service charge budgets in coordination with Finance and FM, ensuring transparency and recoverability. - Ensure compliance with RERA and relevant strata management regulations. - Achieve high annual service charge recovery rates. - Maintain audit compliance and reconciliation timelines. - Enhance tenant satisfaction with cost transparency. Market Intelligence & Competitive Benchmarking - Monitor real estate market trends, competitor positioning, and regulatory changes to inform pricing, leasing, and asset repositioning decisions. - Actively engage with brokers, research agencies, and industry events. - Ensure market-aligned pricing and product positioning. - Benchmark per

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