Manager - Property Development

Croma; Kolkata District; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

Croma is seeking a Real Estate Expansion Manager to drive profitable retail growth across the region. You will identify new site opportunities, negotiate leases, and coordinate cross-functional teams for timely store openings.

Responsibilities include evaluating markets, managing commercial terms, and ensuring compliance with regulations while optimizing existing assets and relationships with landlords.

Qualifications

• Experience in retail real estate or expansion preferred.
• Strong negotiation and financial analysis skills.
• Ability to manage multiple stakeholders and sites.

Responsibilities

• Execute regional property development plans aligned with growth objectives.
• Identify and evaluate potential store sites with viability studies.
• Manage rental economics, budgets, and commercial terms for acquisitions.
• Coordinate with landlords, brokers, design, and operations for approvals.
• Drive process improvements in site selection, approvals, and execution.
• Maintain relationships with landlords for invoicing, renewals and compliance.

Skills

Negotiation

Retail / Property development

Site evaluation

Lease management

Financial analysis

Stakeholder management

Project coordination

Communication

Job description

Job Summary

• The role is responsible for driving profitable Retail expansion across the assigned territory by identifying, evaluating, negotiating, and executing new site opportunities.
• The incumbent will work closely with internal stakeholders and external partners to ensure timely and cost- effective project execution aligned with the company's growth objectives.
• The role will also be responsible for maintain good relationship with existing Landlords and support the operations with cost optimization through rent renegotiations etc whenever required
• Key stakeholders include NSO, Design, Operations, Projects, Finance, Legal, Brokers, Developers and Landlords.

Key Responsibilities

1. 1. Planning & Strategy
   - Execute the regional property development plan in alignment with business growth objectives.
   - Identify market opportunities and prepare expansion strategies for assigned territories.
   - Ensure timely achievement of site acquisition and development milestones.
   - Coordinate cross-functional activities to support smooth project execution.
2. 2. New Store Development
   - Identify and evaluate potential sites based on market potential, demographics, accessibility, and commercial viability.
   - Conduct feasibility studies and prepare detailed site assessment reports.
   - Present real estate proposals, layouts, and financial projections for management approval.
   - Negotiate commercial terms, rentals, lease agreements, and other contractual obligations with landlords and developers.
   - Coordinate legal documentation and ensure compliance with lease and statutory requirements.
   - Work with design teams, project teams, and consultants for store planning and approvals.
   - Manage relationships with brokers, landlords, mall management teams.
3. 3. Financial & Commercial Management
   - Drive ROI-focused decision-making for all site acquisitions and projects.
   - Ensure project costs and commercial terms are aligned with approved budgets and business expectations.
   - Monitor portfolio profitability and market benchmarks.
   Assess rental economics, project viability, and operational sustainability.
   - Ensure optimal space utilization and location selection.
4. 4. Stakeholder Management
   - Manage internal & External stakeholders
5. 5. Process Improvement & Compliance
   - Ensure all projects comply with company standards, statutory regulations, and operational requirements.
   Drive process improvements in site selection, project approvals, and development execution.
   - Support innovation and efficiency initiatives in restaurant development.
   - Maintain accurate documentation and project tracking systems.
6. 6. Existing Asset Management
   - Coordinate with Finance and Landlords for smooth invoicing and rental processes
   - Follow up with LLs for Fire NOC renewals, latest property tax receipts and other necessary and regulatory compliances.
   - Work closely with operations and support them in store profitability from property perspective through rent renegotiations/ Resizing/ Sub leases.
   - Coordinate with LL for any issues at the property to ensure smooth operations at the store.

Key Skills & Competencies

• Strong negotiation and commercial acumen
• Expertise in retail / property development
• Site evaluation and market analysis
• Lease management and legal coordination
• Financial analysis and ROI assessment
• Stakeholder and relationship management
• Project coordination and execution
• Strong communication and presentation skills

Preferred Industry Background

Candidates from retail, retail expansion, shopping malls, or organized retail industries will be preferred.