Participants of the two-day workshop ‘ABC of Leasing’ which concluded here recently were provided beneficial insights on how to skillfully combine various elements to run a successful retail leasing programme.
Organised by the Middle East Council of Shopping Centres (MECSC), the workshop attracted participants from the UAE and other GCC countries to hear Walter Kleinschmit, President of R2E Consultants Inc, and the workshop facilitator, take them through the fundamentals to operate a successful shopping centre.
“Merchandising the mall is very important to bring in the right mix of high street and local brands. Retailers have to be comfortable with the planned retail environment and shopping centres should deliver and sustain the plan,” said Kleinschmit at the conclusion of the workshop.
“The workshop’s main objective was to demonstrate that leasing is a combination of art and science and that it requires a disciplined approach and methodology to compete successfully,” he added
While saying the shopping mall industry is in urgent need of trained leasing professionals, Kleinschmit also said shopping malls have become society’s lifestyle component and the workshop addressed this social need on how malls can help maintain this vital component.
Participants shared experiences, case studies and discussed best practices in leasing at the workshop that focused on important aspects of leasing, lease processes and how to create a successful leasing programme.
“The retail leasing industry is booming and forums like these help you better understand the specifics of leasing which is important if you want the right mix of tenants,” said Majid Ali Al Gandeel, Assistant General Manager, Kingdom Centre, Riyadh, who was attending his second MECSC workshop. “This workshop has helped me with insights on how to ensure traffic throughout the mall at all times.”
Sanjaj Madhok, Deputy GM (Leasing) Tandeem Shopping Centre Development Company, Kuwait, said leasing continues to be competitive.
“In understanding the technicalities of the industry, it helps you work better with retailers and create a harmonious environment. We have to pay great attention to the services offered, positioning of food courts, cafes, anchor and local brands, etc. All these are extremely important to the success of a shopping centre,” said Madhok, who also suggested that forums like these should be held at various cities in the Gulf.
Debbie Russo, General Manager, Mercato LLC said this workshop helped provide good insights into current trends in retail leasing industry.
“The views and case studies were very beneficial,” said Ms Russo, who also added that the workshop provided her with better understandings on how to protect the shopping mall when it comes to contracts.
The MECSC workshop touched upon various topics including, the basics of leasing, how to develop a successful merchandising programme, planning techniques, planning and managing the leasing process, how to put the contracts together and understanding the basics of enforcement.
Kim Redman, Regional Director of MECSC said the workshop was successful in that participants benefited greatly from Kleinschmit’s first hand experience of the regional market and international trends.
“The workshop was part of our ongoing programme to develop regional talent that will sustain the growth and development of the shopping mall industry,” Redman said. “As retail business is growing at a phenomenal pace in the region, the importance of having trained professionals with strong knowledge of leasing cannot be ignored. They will ensure that there is a right mix of brands, increased footfall and a win-win relationship with retailers,” Redman added.
Kleinschmit is a founder of the MECSC and is a member of the international faculty of the ICSC School for Professional Development. He has over 23 years retail and development experience in the UAE, Saudi Arabia, Qatar, and Oman. He worked for over 19 years in Canada in the retail industry before moving to the Middle East.
The Middle East Council of Shopping Centres is based in Dubai and is a voluntary non-profit association. Established in 1994, the council has hundreds of active members, presided over by Majid Saif Al Ghurair, President of the BurJuman Centre.
MECSC represents shopping mall owners, developers, marketing managers, leasing managers and specialists, retailers, consultants, property managers, financiers, accountants, government officials and industry suppliers. MECSC covers a territory of 18 countries including Algeria, Egypt and Tunisia in North Africa; Jordan, Lebanon, Palestine and Syria in the Levant; the six Gulf Cooperation Countries (GCC) of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, as well as Iran, Iraq and Yemen
For more information on the MECSC please visit www.mecsc.org.
