Senior Director - Asset Management Retail - 20005456 (CDU4)

Qiddiya is Saudi Arabia's flagship destination for entertainment, sports, and culture — a cornerstone of Vision 2030 located just outside Riyadh. Spanning over 360 km², it will feature world-class attractions including a Formula 1-grade racetrack, theme parks, major sports venues, and performance spaces. More than a destination, Qiddiya is a catalyst for economic diversification, job creation, and a new way of life. With construction progressing rapidly, we're looking for driven professionals ready to help shape one of the world's most ambitious developments. Every role here has real impact — from planning and design to delivery and operations. If you're motivated by large-scale challenges and lasting legacy, there's a place for you at Qiddiya.

General Summary

As part of its development of Qiddiya City, Qiddiya Investment Company ("QIC") will be developing residential communities, retail destinations, office precincts, hospitality & F&B offerings, entertainment venues, staff accommodation, educational, medical, sports & cultural arenas & stadiums (F1, tennis, golf, equestrian, motor sports, aquatics etc.), theme parks and e-gaming concepts in standalone or mixed-use environments.

The Senior Director - Asset Management - Retail will lead a team and collaborate with other internal and external professionals to optimize the performance of the assets, minimizing risk with the QIC corporate framework and Qiddiya City objectives. The immediate focus will be the retail assets coming to market by 2030.

The Retail portfolio encompasses assets under Asset Management's remit inclusive but not limited to retail, leisure, entertainment and F&B. The portfolio will grow substantially over the next five years. By 2030 it is planned to be : 80,000sqm. By 2035 it is envisaged that the retail portfolio be : 380,000sqm - inclusive of major openings in 2032 of 68,000sqm, 2033 of 51,000sqm, and 2035 of 157,000sqm.

Essential Duties And Responsibilities

Assist in developing and implementing the Asset Management Framework for Retail assets in Qiddiya including setting, monitoring and periodically refining a Retail Asset Management Strategy (RAMS) that delivers on financial performance metrics and drives operational efficiencies for long term sustainable growth. Incorporating but not limited to targets on NOI/EBITDA, Operating Margin, IRR, CAPEX, ESG and Customer Experience, Customer Satisfaction, and NPS scores.

Assist in designing the Retail Asset Management team structure and implement hiring and onboarding in accordance with the RAMS.

Have input into and implement Qiddiya Asset Management Retail specific operational policies, standards and KPI's for Retail assets.

Support and assist with the negotiation, execution, and management of all leases, contracts, service agreements in conjunction with the Qiddiya Strategy and Development teams across the RAM portfolio. Ensuring a delivery of agreed occupancy levels by 12 months post opening.

Ensure the Retail Asset Management department is adequately resourced to accept handover and management of all assets upon completion, with defined budgets, processes, and risk controls in place.

Lead pre-opening activities. Manage the asset handover, onboarding of all operators/tenants and the pre-opening activities, and develop asset-specific business plans, including capex and opex budgets. etc. for all Retail assets in conjunction with the Qiddiya Development team.

Develop strategic relationships with all operators, tenants and service providers, to achieve annual tenant satisfaction scores in line with agreed Qiddiya scores or higher.

In collaboration and conjunction with the Asset Management - Facility Management team, Design and develop and implement the Retail ESG Strategy for Qiddiya Asset Management which is aligned with the Qiddiya City approved ESG commitments.

Oversee all Retail asset and portfolio reporting to the Snr Exec Director Retail to:

• Continually monitor and analyze asset and portfolio performance and risk across all target KPI's with accurate, and compliant reports monthly, quarterly, and annually
• Develop and implement strategic responses to performance to ensure targets are consistently and reliably met or exceeded and continually review for optimal performance outcomes. Develop strategic responses to any negative deviations from KPIs and escalate proposals to the Snr Exec Director Retail - Asset Management
• Analyzing asset operations, business plans, capital investments, sales & marketing plans and strategic alternatives. Including but not limited to: Operating Margin, NOI growth, IRR, CAPEX, operational efficiency targets, occupancy, tenant fit out & onboarding, ESG performance etc
• Formulating and making recommendations to the Senior ED Retail and required stakeholders for short and long-term strategic asset plans
• Research and remain close to all markets affecting the Retail and specifically the markets in which the assets are situated, including supply and demand changes and trends
• Analyze retail sector market trends, customer preferences, tenant demand and supply factors, and integrate findings into portfolio strategies
• Examine and monitor the operating performance of the assets to ensure the return on investment in each asset is maximized
• Meet with operator / tenant executive teams to review monthly & quarterly operating performance, annual business plans and longer-term strategic plans
• Lead quarterly operator/tenant business plan reviews and annual portfolio strategic reviews
• Proactively identify and resolve ownership issues to maintain the integrity of the assets
• Ensure the effective deployment of capital by working with the operator / tenant teams and third-party technical services consultants to execute and monitor each asset's short and long-term capital plans. Ensure major capex projects are delivered on time and within budget, with robust ROI justification exceeding target IRR on each project
• Prepare investment summaries & make recommendations for major CAPEX expenditures
• Identify value-enhancement opportunities through repositioning, redevelopment, or strategic partnerships. Develop strategies to implement with associated ROI, commercial and strategic outcomes
• Monitor and analyze return on investment for the assets as well as profit improving projects, either implemented or proposed
• Provide input to monthly, quarterly and annual internal reports to the Executive Committee for all assets in the Retail portfolio
  
  

Engage and collaborate with other Asset Class leads to optimize overall Qiddiya customer experience, extract operating initiatives and synergies and asset performance including event management, security, transportation, marketing and communications, packages and pricing etc.

Participate in Qiddiya's ESG reviews and sustainability forums to ensure sector alignment with Vision 2030 and QIC corporate sustainability goals.

Other tasks as required, as assigned with clear targets and deadlines agreed with the line manager.

Requirements

Qualifications

Degree educated within the fields of Real Estate, Business, or related field

Asset pre-opening and operations experience

Relevant Retail certifications and industry memberships/affiliations

15+ years of real estate Asset Management focused on Retail assets

8+ years in a leadership position