Date: 28 Sep 2023
Location: Dubai, AE
Company: Al Futtaim Private Company LLC
Job Requisition ID: 156168
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world’s most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day
Overview of the role:
The purpose of this role is to support the Regional Analysis Team with Leasing Scenario Analysis, Budgeting & Forecasting Activities, creation and administration of financial models, reports and dashboards.
What you will do:
1. Budget & Forecast
• Assist in preparation of Budget & Forecasts for the wider portfolio
• Compile Actual vs Budget, Actual vs Forecast variance reports portfolio-wise
• Monitor Actual Revenue & Occupancy achievements and highlight any financial impact to the management for review
• Keep abreast with all on-going leasing activity and monitor it accordingly for the subsequent integration in forecasts, reports and dashboards
• Analyze all commercial decisions related to contracts, including Revenue & Occupancy impact, ratios & other KPIs etc.
• Create and administer financial models and dashboards as directed, in line with the company’s KPIs and reporting requirements
2. Business Case Analysis
• Prepare business cases and presentations as part of the deal approval process in order to support senior management review and decision making
• Liaise with various internal departments regarding the distribution of a variety of reports
• Conduct deal and variance analysis objectively and in line with the company’s procedures
• Assess company documentation and reports proposed for senior management review on regular basis • Conduct lease research as required, review and understand clauses and verify the viability of the business terms
3. ERP Activities & Upload
• Cleanse & upload data onto the preferred ERP software in order to facilitate revenue & occupancy calculations
• Collect, cleanse and interpret data and statistics using quantitative and qualitative methodology to write comprehensive reports that identify benefit & risk areas
• Monitor monthly retail sales information, investigate and highlight any unanticipated fluctuations to the management for further review
• Track and maintain critical dates including all upcoming expiries and vacancies and evaluate for multi-asset synergies and leasing opportunities
• Maintain the Leasing Activity Dashboard in Power BI for monthly reporting to senior management
This role is required to provide timely data and analysis of retail data to support leasing decision making. This entails close collaboration with the lease administration, retail leasing, finance, mall management departments.
Required skills to be successful:
Proficient YARDI knowledge (Property Management Software)
Excellent understanding of Commercial & Retail Leasing Principles
Well-versed with financial modelling, variance analysis, management financial reporting
Well-versed with revenue financial principles and Dubai real estate laws
Previous experience in preparation of Budget Strategic Packs, Monthly Forecasts
Behavioural Competencies :
• Ability to adhere to strict deadlines
• Ability to work in a busy environment and display good composure whilst working under pressure with many deliverables
• Agility in dealing with ad-hoc requests
• Strong commercial acumen and business fluency in variance interpretation and commentary
• Excellent communication skills in Business English (speaking & writing )
What equips you for the role:
Minimum Qualifications and Knowledge:
• Finance qualification desired but not mandatory
• Strong analytical skills, expertise in Microsoft Office, particularly Excel and Power BI
• Knowledge of using analytical tools and systems
• Knowledge of Real Estate Industry, Commercial & Retail Property Management
• The ideal candidate would possess 3-5 years’ experience in Retail / Financial / Real Estate analysis and financial reporting.
About Al-Futtaim Malls
Al-Futtaim Malls provides development and asset management expertise, specializing in building retail-led super regional malls in prime locations across MENA and beyond. With a proven track record of creating both sustainable revenue growth and value enhancement for tenants, Al-Futtaim Malls delivers exceptional experiences and exciting shopping environments for customers.
Part of the Al-Futtaim Group, Al-Futtaim Malls leadership team brings more than 30 years of experience and a deep understanding and knowledge of the retail sector, both from a shopper’s point of view but as curators of space or landlords to other brands. The company has a directly managed portfolio including over 9 million sqft of retail space across four malls in the MENA region and two under development. Malls under the Al-Futtaim Malls portfolio include Dubai Festival City Mall and Festival Plaza in the UAE, Cairo Festival City Mall in Egypt, Doha Festival City in Qatar and Zenata Mall, Morocco.
Leveraging on the expertise of its parent company, Al-Futtaim Malls established PLEX Management Services offering a full array of services including asset management and development, leasing, and brand experience expertise to shopping mall landlords and retail organizations globally. Implementing global best practice and deploying Al-Futtaim Mall’s deep understanding of mall management and retail dynamics, PLEX promises to deliver continuous growth and long-term value for its partners.