Director, Residential and Commercial 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 performance against peer assets.
• Develop updated strategic responses to regulatory or market shifts.

Team Leadership & People Development

• Provide strategic direction and leadership to the asset management team responsible for residential and commercial properties across Dubai Festival City and AFRE’s broader portfolio.
• Guide, mentor, and develop high-performing professionals including property managers, leasing specialists, and analysts.
• Ensure alignment with organizational goals and foster a culture of performance, accountability, and collaboration.
• Lead by example in cross-functional coordination with Finance, Legal, Facilities Management, and Development teams.
• Achieve effective cross-functional collaboration and project delivery outcomes.

Required Skills To Be Successful:

• Strategic financial and commercial acumen with P&L accountability.
• Strong leadership and stakeholder engagement skills.
• Proven ability to lead cross-functional teams and manage multiple assets.
• Sound understanding of leasing, FM operations, and capital planning.

What Qualifies You For The Role:

• Bachelor’s degree in Real Estate, Finance, Business Administration, Engineering, or a related field.
• Master’s degree (MBA or MSc in Real Estate or Asset Management) preferred.
• 20+ years of experience in asset and property management, with at least 5 years in a senior leadership role managing large mixed-use portfolios.
• Proven record of managing income-producing residential and commercial real estate assets.
• Strong exposure to the UAE or GCC market essential.
• Experience in design input, lease structuring, and service charge governance.
• Experience in freehold properties advantageous.

About Al-Futtaim Real Estate

With a legacy of more than six decades in real estate and asset management, Al-Futtaim Real Estate – part of Al-Futtaim – creates real impact on the communities it serves through long-term investment and growth. As one of the region’s leading private developers, the company plans, creates and manages developments across the MENA region.

Al-Futtaim Real Estate has a diversified, multi-billion-dollar portfolio across the real estate value chain and asset types such as residential, commercial, malls and industries including hospitality, healthcare, infrastructure and education. Flagship mixed-use urban communities include Dubai Festival City and Cairo Festival City.

Al-Futtaim Real Estate is also responsible for Al-Futtaim Contracting, a fully integrated, end-to-end specialist division operating across the UAE, Saudi Arabia, Qatar and Egypt. The business has delivered industry-leading construction, engineering, technology and FM solutions for more than 50 years.