Job Overview
Al-Futtaim Real Estate is hiring an experienced Director – Residential & Commercial Asset Management in Dubai, UAE to lead the strategic and operational management of its residential and commercial property portfolio.
This senior leadership opportunity is suitable for experienced real estate professionals with extensive knowledge of property management, asset management, commercial leasing, residential leasing, financial planning, and real estate investment strategies.
The Director will be responsible for maximising property values, increasing rental income, improving asset profitability, maintaining high occupancy rates, and enhancing tenant satisfaction across Al-Futtaim Real Estate’s portfolio, including Dubai Festival City and other developments.
The successful candidate will oversee asset strategies, property leasing, financial performance, facilities management, capital improvement projects, and service charge governance while ensuring compliance with UAE real estate regulations.
Working closely with Finance, Legal, Facilities Management, Development, and other business teams, the Director will drive sustainable portfolio growth and deliver long-term value for the organisation.
Key Responsibilities
1. Strategic Real Estate Asset Management
- Develop and implement asset management strategies for residential and commercial properties across Dubai Festival City and Al-Futtaim Real Estate’s portfolio.
- Align property strategies with long-term financial objectives, investment plans, and business priorities.
- Lead annual asset planning, performance benchmarking, and property repositioning initiatives.
- Identify opportunities to increase Net Operating Income (NOI) and improve asset profitability.
- Deliver approved annual business plans and five-year asset management strategies.
- Monitor property valuations and implement initiatives to improve asset value.
- Evaluate market performance and identify opportunities for sustainable real estate growth.
2. Financial Management and P&L Accountability
- Take full responsibility for the financial performance and profit and loss (P&L) management of residential and commercial properties.
- Oversee rental income, operating expenses, service charge recovery, and overall asset profitability.
- Develop annual property budgets, financial forecasts, and capital expenditure (CAPEX) plans in collaboration with Finance teams.
- Monitor financial performance against approved budgets and identify cost-saving opportunities.
- Ensure accurate monthly and quarterly financial reporting.
- Drive revenue growth and maintain effective cost control across the property portfolio.
- Analyse financial performance and implement strategies to improve investment returns.
3. Residential and Commercial Leasing Strategy
- Develop and lead leasing strategies for residential, retail, and commercial office properties.
- Maximise occupancy rates and rental income across the portfolio.
- Ensure rental prices remain competitive and aligned with prevailing UAE real estate market conditions.
- Improve tenant retention and reduce vacancy and tenant turnover rates.
- Develop strategies for residential leasing, property sales, and unit absorption.
- Optimise commercial tenant mix to improve property performance and customer experience.
- Manage lease renewals and strengthen long-term relationships with strategic tenants.
- Identify new leasing opportunities to maximise rental yields and asset value.
4. Tenant Relationship and Community Management
- Act as a senior point of contact for VIP tenants and major commercial leasing partners.
- Develop tenant engagement strategies to improve satisfaction and long-term retention.
- Monitor tenant feedback and implement service improvement initiatives.
- Ensure tenant complaints and service issues are resolved within agreed service-level agreements (SLAs).
- Build strong relationships with residential and commercial tenants.
- Improve tenant satisfaction scores and Net Promoter Scores (NPS).
- Support long-term lease renewals and maintain positive tenant relationships.
5. Property and Facilities Management Oversight
- Oversee the performance of internal and outsourced facilities management teams.
- Ensure residential and commercial properties meet operational performance standards.
- Monitor health, safety, maintenance, and facilities management requirements.
- Ensure maintenance contracts and Annual Maintenance Contract (AMC) agreements meet contractual obligations.
- Monitor service-level agreements and operational KPIs.
- Improve the performance and reliability of critical building systems, including HVAC and elevators.
- Implement preventive maintenance strategies to reduce equipment downtime.
- Balance operational service quality with cost efficiency and tenant expectations.
6. Capital Projects and Property Improvement
- Lead major capital improvement, refurbishment, and property lifecycle management projects.
- Identify opportunities to upgrade buildings and improve property competitiveness.
- Prepare business cases and investment proposals for capital expenditure approvals.
- Monitor project budgets, delivery schedules, and return on investment (ROI).
- Ensure capital projects are completed on time and within approved budgets.
- Evaluate the financial benefits of property improvement initiatives.
- Improve building quality, operational efficiency, and long-term asset value.
7. Service Charge Management and Regulatory Compliance
- Oversee the preparation and review of service charge budgets in coordination with Finance and Facilities Management teams.
- Ensure service charges are accurately calculated, documented, and recovered.
- Maintain transparency in service charge structures and financial reporting.
- Ensure compliance with RERA requirements and relevant strata management regulations.
- Monitor annual service charge recovery performance.
- Coordinate service charge audits, reconciliations, and reporting activities.
- Improve tenant confidence through transparent service charge management.
8. Real Estate Market Research and Competitive Analysis
- Monitor UAE property market trends, rental movements, and competitor activities.
- Analyse residential and commercial real estate market performance.
- Work with property brokers, research agencies, and industry professionals.
- Evaluate competitor pricing, occupancy levels, rental yields, and tenant demand.
- Develop market-based leasing and asset repositioning strategies.
- Monitor regulatory developments affecting property management and leasing.
- Recommend business strategies to maintain the competitiveness of the property portfolio.
9. Leadership and Team Development
- Provide strategic leadership to the residential and commercial asset management teams.
- Manage and develop property managers, leasing specialists, and financial analysts.
- Establish clear departmental objectives and performance expectations.
- Promote accountability, teamwork, and professional development.
- Coordinate with Finance, Legal, Facilities Management, and Development departments.
- Build a high-performing team focused on operational excellence and business growth.
- Ensure effective communication and collaboration across different business functions.
Required Skills and Competencies
Candidates applying for Director – Residential & Commercial Real Estate Jobs in Dubai should demonstrate:
- Strong financial management and commercial business acumen.
- Extensive knowledge of real estate asset management and property operations.
- Proven experience managing property portfolios with full P&L accountability.
- Strong residential and commercial leasing management capabilities.
- Excellent understanding of rental income optimisation and property valuation.
- Knowledge of facilities management and building operations.
- Experience in capital expenditure planning and investment management.
- Strong understanding of service charge management and recovery.
- Knowledge of UAE real estate regulations, including RERA and strata management requirements.
- Excellent leadership, negotiation, and stakeholder management skills.
- Ability to manage multiple properties and cross-functional teams.
- Strong strategic planning and financial decision-making abilities.
Education and Qualifications
- Bachelor’s degree in Real Estate, Finance, Business Administration, Engineering, or a related discipline.
- Master’s degree in Business Administration (MBA) or MSc in Real Estate or Asset Management is preferred.
- Minimum 20 years of experience in real estate asset management, property management, or related fields.
- At least 5 years of experience in a senior leadership position managing large mixed-use real estate portfolios.
- Proven track record of managing income-generating residential and commercial properties.
- Extensive knowledge of the UAE or GCC real estate market is essential.
- Experience in property design input, lease structuring, and service charge governance.
- Previous experience managing freehold properties will be an advantage.
About Al-Futtaim Real Estate
Al-Futtaim Real Estate is part of the Al-Futtaim Group and has more than six decades of experience in real estate development, investment, and asset management.
The company is one of the region’s leading private real estate developers, managing a diversified, multi-billion-dollar portfolio across residential, commercial, retail, hospitality, healthcare, infrastructure, and education sectors.
Job Details
- Company: Al-Futtaim Real Estate
- Department: Asset Management
- Job Title: Director – Residential & Commercial
- Location: Dubai, United Arab Emirates (UAE)
- Job Category: Real Estate / Property Management
- Experience Required: 20+ Years
- Leadership Experience: Minimum 5 Years in a Senior Leadership Role
- Education: Bachelor’s Degree Required
- Preferred Qualification: MBA or MSc in Real Estate / Asset Management
- Industry: Real Estate / Asset Management / Property Development
- Key Skills: Asset Management, Property Management, Residential Leasing, Commercial Leasing, P&L Management, Facilities Management, CAPEX, RERA Compliance, and Portfolio Management