One Causeway Bay, Head of Asset Management
Mandarin Oriental Hotel Group (MOHG) is seeking an experienced, strategic Head of Asset Management to oversee One Causeway Bay, a prestigious mixed-use commercial property on Hong Kong Island.
This critical role will cover the key responsibilities outlined below and report directly to the Director of Corporate Finance, MOHG. The major focus is on optimizing the financial performance and long-term value of this significant asset to create a successful disposition in a timeframe to be agreed with the senior management of MOHG.
Key Responsibilities
Strategic & Annual Planning
Long-Term Strategy & Theming: Define and adjust the long-term strategy for One Causeway Bay, including its theming, target tenants, zoning, and target rents for each zone. Develop the retail space theme, feeding into the overall marketing plan, ensuring flexibility and alignment with the property's eventual sale.
Business Plans & Budgets: Collaborate with the Hong Kong Land Asset Management team to develop annual business plans focused on executing the property strategy, maximizing revenue for exit, achieving Net Operating Income (NOI) growth, and maintaining the building's high quality. Outline key performance indicators (KPIs) for all stakeholders.
Talent Management: Identify, motivate, and appropriately remunerate staff, including MOHG, Hong Kong Land, and external service providers. Adopt a flexible, short-term, results-oriented approach given the identified disposal requirement, ensuring remuneration packages include incentive payments aligned with a successful outcome.
Due Diligence & Execution Support:Support due diligence efforts for potential buyers and assist in structuring, negotiating, and executing a sale, coordinating with legal, tax, and other advisors.
Tenant Liaison: Serve as the primary point of contact for major tenant-related activities, leading inspections and managing Hong Kong Land through offer letter
and lease negotiations. Conclude lease transactions in line with annual business plans and with an eye on maximizing exit value. Directly involve yourself in major lease negotiations as required, recognizing that positive tenant experiences benefit the sales due diligence process.
ESG Policy: Determine potential tenant and buyer requirements for ESG capabilities and have Hong Kong Land deliver these within the constraints of the property, aligning with One Causeway Bay's strong sustainability certifications.
Capital Markets: Develop the disposition strategy for the property and then manage the marketing and due diligence process with third-party consultants and agents as required. Monthly Responsibilities
Reporting & Communication: Edit monthly reports covering financial, leasing, ESG, and operational updates, and communicate these internally.
Marketing Schedule Management:Manage and adjust the marketing schedule to ensure the building remains top-of-mind for market participants, even when fully leased, given its eventual sale. Provide input to Hong Kong Land’s marketing team and coordinate with the public communications of tenants. Daily Operations
Liaison between OCB and HKL: Act as the primary liaison between One Causeway Bay and Hong Kong Land, clearly defining objectives, monitoring performance against established KPIs, ensuring alignment with the owner's desire to maximise value in a short time period, and fostering a highly collaborative environment to achieve optimal asset performance.
Asset Management Meetings: Set the agenda for and lead weekly or fortnightly asset management meetings, preferably on Monday mornings, to outline weekly tasks and receive leasing updates.
Principal Contact with Senior HKL Team:Serve as the principal point of contact with the senior Hong Kong Land team, making daily decisions on lease terms, operational requirements, small capital expenditures, tenant issues, and property management queries.
RequirementsA minimum of 15 years of progressive experience in commercial property asset management, with a proven track record of successfully managing large-scale mixed-use developments and a demonstrated track record of disposing of properties.
Strong financial acumen and a deep understanding of real estate investment, valuation, and financial modelling.
Excellent leadership, negotiation, and communication skills, with the ability to effectively engage with diverse stakeholders at all levels.
Demonstrated ability to develop and execute strategic plans that drive financial performance and enhance asset value, especially in the context of property disposition, as well as an ability to market and ultimately sell real estate.
In-depth knowledge of the Hong Kong commercial real estate market is highly desirable.
A strong understanding of modern building features, wellness, and sustainability principles in commercial real estate.
Bachelor's degree in Real Estate, Finance, Business Administration, or a related field. Relevant professional certifications (e.g., CFA, MRICS) is a plus.
Proactive, results-oriented, and analytical with strong problem-solving abilities.
