Manager, Real Estate Portfolio Management

Job purpose

Lead and manage corporate real estate portfolio with estimated value of AED 70B (owned and leased buildings and lands, including, but not limited to onshore and offshore non-core real estate assets such as mixed use, commercial, light industrial and social infrastructure assets) across various geographies and ensure their effective utilization and management. Lead periodic corporate demand assessments and planning of corporate real estate portfolio, including future expansions, property investments and developments management, and the efficient properties and lands utilization and distribution. Lead real estate portfolio strategy, strategic partnership and stakeholder management and business development activities. Manage administration and leasing activities to ensure provision of quality oriented and cost effective centralized corporate leasing and lands management, retail services, shops, warehouses, offices and rental revenue management services for ADNOC and Group Companies.

Key accountabilities

Real estate portfolio planning and management

Govern ADNOC and Group Companies owned and leased properties (including lands, offices, retail properties, stores, social infrastructure assets and any other non-core industrial assets located across onshore or offshore, freezones and special economic zones) to ensure their most efficient utilization and maximization of yearly income, including marketing, leasing, acquisitions and disposals. Ensure coordination with governmental authorities (as required) regarding land allocation (for Group Companies and their contractors), site plan issuance, new assets and leases registration.

Ensure periodic corporate real estate demand assessments and portfolio planning to fulfil ADNOC and its Group Companies’ requirements for future expansions. Govern centralized real estate assets portfolio registration and real estate data management. Lead periodic property valuations to assess market value and market rent and conduct benchmark studies to ensure rental rates competitiveness and alignment with the market standards and best practices.

Lead and manage the corporate real estate performance assessment, and financial administration including annual budgeting, monitoring and reporting of rental revenues, service charges, sinking funds, utilities expenses, etc. Lead and manage review of life cycle of properties and monitor sinking funds. Contribute to the identification and implementation of best practices in the real estate sector for cost optimization and improving efficiency.

Portfolio strategy and strategic investment management

Lead real estate portfolio strategy, strategic partnership and stakeholder management and business development activities. Optimize ADNOC Group’s asset utilization by developing a proactive commercial strategy to improve the return on investment for ADNOC while reducing the company’s capital investments and supporting business growth opportunities.

Ensure provision of periodic reporting, business plans, rental forecasts, board meetings and dividend payments to strategic partners/shareholders in alignment with ADNOC’s obligations under the effective shareholder agreements. Ensure seamless management of Landmark SPV’s (Newco 1, Leasco, Newco 2, Propco) day to day activities, shareholder communication, company licence and office lease renewals at ADGM, etc.

Lead property investment plans, manage analysis and identification of opportunities for new and existing property investments, including timely refurbishments, for the purpose of increasing leasing revenue streams and existing assets performance. Lead business development and negotiations with potential investors/tenants to ensure the most commercially viable deals in renting of lands and built assets such as offices, stores, shops, retail units, warehouses, social infrastructure assets, etc.

Leasing and contracts management

Manage corporate real estate lease in and lease out activities, lease administration, contracts issuance, registration and review and endorse all related agreements, contracts and other documentation and ensure that they are following the best practices, international standards and prevailing UAE laws and regulations.

Monitor and endorse regular payments related to utilities, Tawtheeq registration, and site plan issuance, and other such payments as may be applicable in relation to the corporate real estate assets.

Financial administration

Manage corporate real estate finance administration function including annual budgeting, monitoring and reporting of rental revenues, service charges, sinking funds, utilities expenses, etc. Ensure that asset related rent, service and utilities charge demands are being issued to the tenants and recorded as appropriate.

Manage liaison with the insurance companies and with the finance directorate (treasury) in asset/business unit evaluation, risk assessments and in matters related to the insurance claims until resolved for all owned and leased buildings. Monitor and follow up for endorsing regular payments related to utilities, Tawtheeq registration, and site plan issuance, and other such payments as may be applicable in relation to the corporate real estate assets.

Management plan

Plan and supervise the activities of the personnel and resources to achieve department’s objectives in an efficient and cost-conscious manner. Develop the knowledge, competencies and innovative spirit in the department and support the establishment of personal development plans (PDPs), succession planning and talent pipeline in coordination with the human capital function to continuously develop employees with emphasis on UAE nationals to meet Emiratization targets.

Policies, systems, processes & procedures

Lead the implementation of approved policies, processes, systems, standards, procedures and internal controls to support execution of the department work programs in line with company and international standards.

Performance management

Implement the company performance management system for individuals in accordance with company approved guidelines and continuously monitor the achievement of KPIs related to the approved annual performance management balanced score card.

Innovation and continuous improvement

Encourage innovation, enhance employee motivation and support initiatives for implementation of change management to continuously improve operations and services. Propose improvements in internal processes against best practices in pursuit of greater efficiency in line with relevant standards to define intelligent solutions.

Health, safety, environment (HSE) and sustainability

Support the institution of an HSE culture and ensure compliance with relevant HSE policies, procedures, systems & controls and applicable legislation and sustainability guidelines in line with international standards, best practices and ADNOC’s code of practices. Ensure adequate HSE training and induction for all department employees to meet HSE standards.

Management information systems (MIS) and reports

Facilitate provision of all section MIS and progress reports to provide accurate and timely reports and necessary information to company management to effectively manage the business.

Communications & working relationships

Internal

Regular work-related contact with concerned VP and SVP, EVP and ED as needed, peers, and team members on matters related to department activities, strategy and business plans, operations, administration, people, HSE and integrity and domain specific issues.

• ADNOC employees in various functions
• HC Support & Service Excellence Division
• Finance Directorate
• Business & Commercial Support Directorate
• Legal, Governance & Compliance Directorate
• Upstream Directorate
• Downstream Directorate
• Marketing, Sales & Trading Directorate

External

• ADNOC Group Companies
• Abu Dhabi Distribution Company
• Department for Transport
• Urban Planning Council & Municipalities
• Various landlords and their representatives
• Various governmental entities
• Abu Dhabi Pension Fund and Apollo (as shareholders in Landmark entities - Leasco and Newco 2)

Qualifications, experience, knowledge & skills

Minimum qualification

Bachelor’s degree in engineering/business administration or equivalent.

Minimum experience & knowledge & skills

15 years of experience in facilities/building management in a large organization, preferably in the oil and gas industry, of which at least 8 years in managerial responsibilities. Thorough understanding and experience in real estate management, leasing, inventory control and budgeting. Knowledge of occupational hazards and safety precautions. Ability to comprehend blueprint details and specifications. Ability to plan and schedule daily and weekly work schedules for staff. The ability to communicate both in written and verbal form.

• Leadership and managerial skills
• Customer services
• Problem solving skills
• Budget oriented

Professional certifications

Not applicable.

Technical competencies

As per approved competency dictionary.

Behavioural competencies

As per approved competency dictionary.