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Department Definition
The Commercial & Engagement Division is responsible for driving strategic engagement programs and initiatives that support Expo City Dubai’s objectives, delivering commercial, educational, and social value. These initiatives include attracting local and international entities to set up their headquarters and experience centres within Expo City; developing programs that contribute to the transfer of knowledge and exchange of experiences; enhancing the City’s positioning as a hub of excellence and a centre for innovation, education and sustainability; developing strategic partnerships; and integrating businesses, SMEs, educational entities, students, and innovators as part of a cohesive ecosystem.
Opportunity Responsibilities
The Director - Business Development will manage the Commercial Leasing portfolio. This is an important role in leading and managing all aspects of commercial leasing activities within our organization.
The Director will be responsible for developing and executing leasing strategies to maximize occupancy, revenue, and profitability across our commercial real estate portfolio. The role will drive successful negotiations, tenant relationships, and contribute to the growth and success of our real estate business.
The main responsibilities for this role include:
Strategic Responsibilities
Leasing Strategy Development:
- Develop and implement leasing strategies that align with organizational goals and market trends. Continuously assess and adjust strategies to optimize occupancy and rental income.
- Develop a strategic approach to new business pipeline development, primarily focused on leasing of retail and office spaces, aligned with our purpose of creating a global community with a vision to champion innovative and sustainable living, thinking and collaboration.
Portfolio Management:
- Oversee the management of a diverse commercial real estate portfolio. Monitor lease expirations, vacancies, and lease-up progress to maintain optimal occupancy levels.
- Expand the profile and reach of Expo City Dubai and its businesses and promote its products and services.
- Identify relevant events and third-party platforms to represent and strategically position ECD.
Broker Relations:
- Establish strong alliances and partnerships with the Leading Broker companies in the market.
Operational Responsibilities
- Market Analysis: Stay informed about market conditions, competitors, and emerging trends in the commercial real estate sector. Utilize this information to make informed decisions and adapt leasing strategies accordingly
- Lease Negotiations: Lead lease negotiations, including rent rates, terms, and concessions. Ensure lease agreements are compliant with local regulations and align with company objectives.
- Tenant Acquisition and Retention: Identify and attract potential tenants for available commercial spaces. Foster strong tenant relationships and collaborate with property management to ensure tenant satisfaction, renewals, and long-term partnerships.
- Financial Management: Collaborate with finance and accounting teams to set leasing budgets, monitor expenses, and track leasing-related revenue. Maximize rental income while controlling costs.
- Legal Compliance: Ensure that all leasing activities comply with local, state, and federal laws and regulations governing commercial real estate leasing
- Reporting: Generate and present regular reports and analytics on leasing performance, occupancy rates, and revenue forecasts to senior management and stakeholders.
- Tenant Services: Oversee the provision of services to tenants, such as maintenance requests, improvements, and other tenant needs.
People Responsibilities
- Team Leadership: Manage and mentor leasing teams, providing guidance, training, and support to achieve leasing targets and foster professional growth.
- Set objectives and evaluate performance of individual direct reports and actively manage key personnel issues.
- Ensure that all staff acquire the required skills and knowledge through appropriate learning and development programmes.
- Embed culture and values by role modeling organisational behaviours through excellence, performance management, feedback and coaching.
- Encourage frequent knowledge sharing between team members.
Skills
10+ years of extensive experience in commercial real estate leasing, with a proven track record of successful lease negotiations and portfolio management as well as:
- Bachelor’s degree in business, Real Estate, or a related field (master’s degree preferred).
- Strong understanding of real estate market dynamics and trends.
- Excellent negotiation, communication, and interpersonal skills.
- Leadership experience with the ability to build and manage high-performing teams.
- Proficiency in real estate management software and tools.
- Familiarity with local, state, and federal real estate laws and regulations.
- Strong financial acumen and budget management skills.