ABOUT US
As a leader in luxury retail in the Middle East, Al Tayer Group's retail division, Al Tayer Insignia, hosts a portfolio of some of the world’s best luxury brands in the fashion, jewellery, home and department store categories. Complementing its position in luxury retail, Al Tayer Insignia has also built new frontiers in lifestyle retail, representing leading brands in the Beauty, Home, Fashion and Hospitality sectors. Our brands include Bloomingdales, Harvey Nichols and Armani to name just a few!
ABOUT THE ROLE
The Leasing Executive you plays a vital role in supporting the leasing activities within the retail organization. This position involves managing the administrative functions related to lease proposals, agreements, payments, and overall lease management to ensure smooth operations and compliance with legal and commercial requirements.
WHAT YOU’LL BE DOING
1. Lease Proposal Management (new locations and lease renewals)
- Prepare new lease proposals by reviewing the Landlord offer for key financial and legal terms. Summarizing the pertinent financial and legal aspects of the offer and providing the Leasing Manager with recommendations for amendment when necessary.
- Prepare renewal proposals for Leasing Manager review, by comparing proposed lease terms to existing terms. Ensure all key legal and financial elements are summarized and advise of any onerous terms (both financial and legal). Provide recommendations to the Leasing Manager for amendment of the renewal when necessary.
- Provide ATG Legal with consolidated comments on leasing proposal for their review. Evaluate legal response and collate for Leasing Manager review prior to any required negotiation.
- Oversee the circulation of the proposal once in agreed format, ensuring timely completion of obtaining signatures from ATG Legal, BU and Authorized Signatories before providing signed documents to the Landlord. Responsible for the follow up and tracking of documents with the Landlord admin team to ensure executed documents are returned.
- Arrange the Arabic translation of proposals when required. Review translation and work with the external translation company to ensure correct wording by comparing to prior documentation.
- Carry out this process for ATI and Ounass, as well as carry out many of the above functions when supporting our JV partners and Logistics team if necessary.
2. Lease Agreement Management (new locations and lease renewals)
- Carry out preliminary legal review/compare ensuring all agreed commercial terms are as per the signed proposals and standard ATG clauses are correctly reflected in the lease prior to ATG Legal review and comments.
- Liaise with BU Finance, ATG Insurance, Operations and ATI Projects teams to confirm details within the Lease are aligned and acceptable.
- Provide review outcome to Leasing Manager for review, along with comments from Legal, Finance, Commercial, Insurance and Projects, so that the Leasing Manager may negotiate the relevant points.
- Complete final check of lease documentation to ensure alignment with agreed terms and share final draft and comments to ATG legal for review and approval.
- Prepare and circulate the Lease Agreement for initialling and signature, including preparing the cover note summarising key pertinent points for senior management visibility (checked by Leasing Manager once produced and signed by Leasing Director)
- Track the circulation of the lease documents with the relevant department secretaries and follow up when necessary to ensure a timely completion.
- Issue signed Lease Agreements documentation and cheques to Landlord. Following up with the Landlord for the executed of the Lease and the issuance of the Municipality documents.
- Ensure the suitable filing, storage and distribution of executed leases and municipality documents.
- Update JDE Entries and upload executed copies of the Lease documents.
- Carry out this process for ATI and Ounass, as well as carry out many of the above functions when supporting our JV partners and Logistics team.
3. Municipality Contract Management (e.g. ADGM, Ejari, Ejar and Tawtheeq)
- Carry out preliminary legal review/compare and coordinate with Leasing Managers and ATG Legal, ensuring all agreed commercial terms and standard ATG clauses are correctly reflected in the Municipality Contracts.
- Manage access to Municipality portals.
- Upload signed documents and approves contract onto Municipality portals once ATG Legal approval is received.
4. Lease Amendments, Addendum & Termination
- Review amendments against commercial requirements and make recommendations to Leasing Manager and Leasing Director ensuring all standard ATG clauses are reflected in the documents.
- Confirm details with Commercial Team, Insurance, BU Finance, Operations and Projects Team.
- Coordinate with ATG Legal for review and comments.
- Manage payments and follow-ups with landlords for the return of the fully executed amendments, addendum and termination documents.
- Carry out this process for ATI and Ounass, as well as carry out many of the above functions when supporting our JV partners and Logistics team.
5. Payments
- Coordinate with Landlord ensuring proper documents are submitted/uploaded on the portal to create the vendor.
- Create vendor master records and enter new lease details into JDE.
- Coordinate with respective Finance Department to ensure all rental payments as per proposal and lease are processed on time and disbursed accordingly.
- Prepare payment breakdowns for Finance, validate and request payments from DCO.
- Manage bank guarantee requests from request to production and work with Landlord finance team to agree format.
- Prepare cover letters, scan cheques and issue rent cheques to LL. Ensuring that proof of receipt is collected/secured (a business-critical activity due to associated risk of potentially losing trading stores).
- Coordinate and follow up on replacement cheques, manage bank guarantee cancellations and security deposit refunds.
6. Diary Management
- Responsibility for tracking and advising of upcoming Lease renewal dates. Informing the Leasing Manager of the pending renewal min 6 months in advance.
- Coordinate internal and external meetings and book meeting rooms.
7. Travel
- Arrange travel and hotel bookings.
- Handle visa applications.
- Process LPO requests
8. Reporting and Support Responsibilities
- Prepare weekly and monthly reports (STR, Renewal STR, rent-to-sales).
- Assume full responsibility maintaining accurate full Leasing database, contact details, financial information, brand and development’s presentation.
- Recommend improvement to Leasing process.
- Prepares formal correspondence to landlord, issuing letters and other relevant communication.
- Disseminate relevant information received to concerned personnel and departments.
- Communicate regularly and proactively with Leasing Director and Leasing Managers.
- Prepare detail summary of lease and proposal commercial terms and other adhoc reports.
- Maintain and manage Leasing’s record storage and collection.
- Manage department stationery requests.
