Purpose
To drive the commercial success of the sustainable city project in Yiti, by overseeing the leasing of office spaces and retail areas, securing financing through bank loans, and fostering investor relationships. This role involves proactively engaging with both international and local commercial brands to rent office and commercial spaces within the development, while also working to secure financial resources and attract investors to ensure the long-term growth and sustainability of the project. The Commercial Manager will be instrumental in achieving the financial and operational goals of the development, positioning it as a prime business hub in the region.
Responsibilities
Strategy
- Create and Implement Leasing Strategy
- Financial Planning and Forecasting
- Business Development and Expansion
- Identify and pursue strategic partnerships with international brands, local businesses, investors, and other key stakeholders to drive growth and diversification of tenants.
- Develop strategies to increase the project’s market share in the commercial real estate sector, positioning it as a premium destination for businesses seeking office and retail spaces.
- Build and maintain long-term relationships with current and potential investors, ensuring that the project attracts sustained financial backing. Develop investor engagement strategies that include regular updates and communication regarding project progress.
Leadership
Attract brands and businesses that share the city’s vision for a sustainable future.
Operational
Leasing and Property Management:
- Develop and implement leasing strategies to attract high-quality international and local commercial tenants for office spaces, retail areas, and other facilities within the sustainable city.
- Negotiate leasing terms and contracts with commercial brands, ensuring favorable terms for the company while meeting tenant needs.
- Oversee the day-to-day management of leasing activities, including lease renewals, rent collections, and tenant inquiries or issues.
- Monitor market trends and competitive pricing to ensure optimal rental rates and occupancy levels.
Bank and Financial Institution Engagement:
- Establish and maintain relationships with local and international banks and financial institutions to secure funding for the project.
- Coordinate the application and approval process for loans and financing, ensuring all requirements are met and timely approvals are obtained.
- Manage financial agreements, ensuring adherence to terms and conditions, and track the disbursement and repayment schedules.
- Investor Relations and Business Development:
- Identify potential investors and business partners, providing them with comprehensive information about the project's value proposition, opportunities, and potential returns.
- Present investment opportunities to stakeholders and manage the negotiation and closing of investment deals.
- Organize and lead meetings with current and prospective investors, providing regular updates on project progress, financial performance, and future development plans.
Market Research and Analysis:
- Conduct regular market research to identify trends, opportunities, and risks in the commercial real estate sector, particularly in the context of sustainable developments.
- Analyze competitor developments and leasing strategies to inform decision-making and maintain the project's competitive edge.
- Prepare reports on leasing performance, financial status, and market trends for management review.
Collaboration with Project Management and Development Teams:
- Work closely with the project management and development teams to ensure the timely and efficient delivery of office and commercial spaces that meet the specifications of tenants and investors.
- Provide feedback on design and development based on tenant needs and market demand.
- Coordinate with the marketing and communications teams to ensure the project's value and features are effectively promoted to potential tenants and investors.
Budget and Financial Planning:
- Collaborate with the finance team to develop and manage the budget for leasing activities, loan repayments, and investor relations.
- Ensure that financial objectives are met, such as target occupancy rates, revenue generation, and cost management.
Tenant Retention and Relationship Management:
- Implement strategies to retain tenants, ensuring satisfaction through effective communication and addressing tenant concerns promptly.
- Maintain long-term relationships with key tenants and ensure their requirements are met, fostering a positive reputation for the project.
MIS and Reports
- Prepare timely and accurate departmental MIS statements and reports to meet SDIC and department requirements, policies, and standards.
Related Assignments
- Perform other related duties or assignments as directed.
Education & Experience
- Bachelor's degree in Business Administration, Real Estate, Finance, or related field (Master’s degree is a plus).
- Minimum 10 years of experience in commercial real estate, business development, or financial management, preferably in large-scale urban or sustainable development projects.
- Strong negotiation skills and proven experience in securing commercial tenants and managing leasing contracts.
- Knowledge and experience in securing loans and financing from banks or other financial institutions.
- Proven ability to develop and maintain relationships with international and local brands, investors, and financial institutions.
- Excellent communication, leadership, and project management skills.
- Proficiency in both English and Arabic is preferred.
Key Skills & Competencies
- FunctionalCommercial and Financial Acumen
- Leasing and Property Management
- Financial Management
- Investment Knowledge
- Problem solving skills
- Strong written and verbal communication skills
- Behavioral Relationship management
- Superior organizational skills
- Multi-tasking skills
- Teamwork and time management
- Achievement motivation
- Strategic thinking
