Director – Asset Management (Residential/Commercial)

JOB PURPOSE

Own the residential/commercial asset-class strategy and performance, aligned with overall portfolio objectives. Drive NOI, occupancy, asset value and sustainable returns through active asset management. Lead leasing, asset enhancement and commercialization to optimize asset performance and value. Leverage AI, analytics and market insights to enhance asset-level decisions and performance.

REPORTING LINES

Report To: Chief Portfolio Management Officer or Executive Director – Portfolio Management Internal Reports From: Associate Asset Management Key Internal Interfaces: D-Hold: brief alignment, project delivery, handover | Legal: lease docs, land titles, operator contracts, JV agreements | Finance: business planning, CAPEX approvals, valuations | M&A: acquisitions/disposals | Khidmah (FM): CAPEX execution | Strategy & Corporate Development | HR | IT/Digital: smart building, tenant portal External Interaction: Asteco (leasing), residential tenants, brokers, valuers, insurance providers, government housing entities (DoM, DMT), JV partners.

ROLES AND RESPONSIBILITIES

Asset Strategy & Performance

Own the asset management strategy and business plan for the assigned residential/commercial portfolio. Shape asset-class positioning and the multi-year hold, enhance or exit view in line with portfolio strategy and market cycle. Deliver NOI, occupancy, rental growth and asset performance against approved targets. Monitor asset performance and drive corrective actions and value-enhancement initiatives.

Leasing & Commercial Optimization

Lead leasing, pricing and retention strategies based on market positioning and asset performance. Set tenant-mix, anchor and covenant strategy to strengthen asset positioning and long-term income quality. Drive commercialization and ancillary income opportunities to diversify and enhance asset revenues. Use market intelligence and customer/tenant insights to optimize commercial decisions.

Asset Enhancement & Value Creation

Lead asset enhancement and repositioning initiatives based on business cases, returns and strategic priorities. Build and defend investment cases for enhancement capital and track realized returns against underwriting. Recommend hold, enhance, reposition or exit actions based on asset performance and portfolio strategy. Partner with Development on asset requirements, design considerations and handover readiness.

Operational & Partner Oversight

Oversee property/facility management and external operators against agreed financial, operational and service KPIs. Ensure effective asset delivery, regulatory compliance and management of key asset-level risks. Embed ESG, sustainability and customer-experience standards across the assigned assets. Manage relevant JV and strategic partner interfaces for assigned assets.

Analytics, AI & Stakeholder Management

Leverage AI, advanced analytics and market intelligence to strengthen forecasting, performance insights and asset decisions. Benchmark asset performance against market comparables to inform pricing, capital and strategic decisions. Provide asset-level insights and recommendations to Portfolio Management and relevant governance forums. Collaborate with Finance, Investment & Capital Planning and Portfolio Performance & Intelligence on planning and performance.

FINANCIAL ACCOUNTABILITY

Owns the residential P&L, NOI target and CAPEX/OpEx budget. Recommends enhancement and leasing spend within DoA.

KEY RESULT AREAS

Asset Financial Performance – NOI, occupancy and rental growth vs. plan Asset Value Creation – enhancement, repositioning and commercial returns Operational Performance – operator performance and asset KPIs delivered Asset Optimization – leasing, pricing, retention and asset utilization AI & Performance Insights – analytics driving forecasts and asset decisions

WORKING CONDITIONS

Regular working hours, office based with travel as needed.

YoE / QUALIFICATIONS / SKILLS RELATED YEARS OF EXPERIENCE

Min. 14+ years, with at least 7 years in residential or commercial asset management or property investment within a REIT, fund or institutional developer.

YoE IN MANAGERIAL POSITION

Min. 6+ years managing teams and service providers.

FIELD OF EXPERIENCE

Residential real estate asset management, leasing, property investment, place-making.

TECHNICAL AND INTERPERSONAL SKILLS

Deep knowledge of UAE residential market dynamics, leasing and competitive landscape. Proven track record developing and executing asset enhancement programs. Strong financial modeling and P&L management skills. Experience with JV governance structures and management agreement enforcement. Ability to develop IC submissions and Board-level papers. Knowledge of UAE land ownership, title, RERA and ADM regulations. Experience with sustainability frameworks (Estidama, LEED) and energy efficiency programs. Ability to leverage AI and digital analytics for forecasting, performance optimization and asset decision-making.

QUALIFICATION

Bachelors in engineering, Finance, Economics, Real Estate or related; master's degree preferable. MRICS or equivalent an advantage.

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