Chief Accountant

Job Purpose

The Chief Accountant will lead and oversee the full accounting function of the company, ensuring accurate financial reporting, compliance with UAE statutory requirements (VAT, Corporate Tax, IFRS), and effective internal controls. The role requires strong expertise in real estate accounting including project costing, revenue recognition under IFRS 15, escrow account management (RERA/DLD), service charge accounting, and consolidated reporting across multiple entities and projects.

Key ResponsibilitiesFinancial Accounting & Reporting

• Oversee the full accounting cycle including general ledger, accounts payable, accounts receivable, fixed assets, and bank reconciliations.
• Prepare monthly, quarterly, and annual financial statements in accordance with IFRS.
• Ensure timely month-end and year-end closing processes within agreed deadlines.
• Prepare consolidated financial statements for the group and its subsidiaries / SPVs.
• Coordinate with external auditors for statutory audits and ensure timely completion.

Real Estate Specific Accounting

• Manage project accounting including cost capitalization, work-in-progress (WIP), and project profitability analysis.
• Apply IFRS 15 revenue recognition for off-plan and ready property sales (point-in-time vs. over-time recognition).
• Oversee escrow account reconciliations and reporting in compliance with RERA / Dubai Land Department (DLD) regulations.
• Manage service charge accounting for owners' associations and managed properties.
• Handle leasing accounting (IFRS 16) including straight-lining of rental income, deferred rent, and lease incentives.
• Track and account for land bank, property under development, investment properties (IAS 40), and inventory of completed units.
• Coordinate with project managers and engineers on cost-to-complete estimates and budget variance analysis.

Taxation & Regulatory Compliance

• Ensure full compliance with UAE VAT regulations, including timely and accurate filing of VAT returns and management of input/output VAT on real estate transactions (zero-rated vs. exempt vs. standard-rated supplies).
• Oversee UAE Corporate Tax compliance, registration, computation, and filing as per Federal Tax Authority (FTA) requirements.
• Manage Economic Substance Regulations (ESR) and Ultimate Beneficial Owner (UBO) reporting where applicable.
• Ensure compliance with AML/CFT requirements relevant to real estate transactions.
• Liaise with FTA, RERA, DLD, and other regulatory bodies as required.

Cash Flow, Budgeting & Treasury

• Manage cash flow forecasting and working capital across multiple projects and entities.
• Prepare annual budgets, rolling forecasts, and variance analysis reports.
• Monitor banking facilities, loan covenants, and project financing arrangements.
• Oversee collections from buyers, milestone-linked receivables, and developer receivables.

Internal Controls & Team Leadership

• Develop, implement, and maintain robust internal controls, accounting policies, and SOPs.
• Supervise, mentor, and develop the accounting team (senior accountants, accountants, AP/AR officers).
• Drive automation and ERP improvements (e.g., Oracle, SAP, Yardi, MS Dynamics, Tally, Focus, Sage).
• Provide financial insights and recommendations to senior management to support strategic decision-making.

Qualifications & ExperienceEducation

• Bachelor's degree in Accounting, Finance, or related field (mandatory).
• Professional qualification preferred: CA, CPA, ACCA, CMA, or equivalent.

Experience

• Minimum 8–12 years of progressive accounting experience, with at least 4–5 years in a senior/chief accountant role.
• Mandatory experience within real estate, property development, or real estate investment companies in the UAE.
• Demonstrated experience handling RERA escrow accounts, off-plan sales accounting, and DLD-related compliance.
• Proven track record managing audits with Big 4 or top-tier audit firms.
• Experience in a group structure with multiple SPVs / subsidiaries is highly desirable.

Technical Skills

• In-depth knowledge of IFRS, particularly IFRS 15 (Revenue), IFRS 16 (Leases), IAS 40 (Investment Property), and IAS 2 (Inventories).
• Strong working knowledge of UAE VAT Law, UAE Corporate Tax Law, and FTA filing procedures.
• Familiarity with RERA, DLD, ADGM, and JAFZA / free zone compliance requirements.
• Proficiency in ERP systems commonly used in UAE real estate (Odoo, Yardi, Oracle, SAP, MS Dynamics, Sage, Focus, Tally).
• Advanced Microsoft Excel skills (pivot tables, financial modeling, large dataset analysis).
• Knowledge of Power BI or similar reporting tools is an advantage.

Behavioral Competencies

• Strong leadership and team management capabilities.
• Excellent analytical and problem-solving skills with high attention to detail.
• Effective communication skills in English; Arabic is an advantage.
• Ability to work under pressure and meet tight reporting deadlines.
• High level of integrity, confidentiality, and professional ethics.
• Proactive, organized, and able to manage multiple priorities across projects.

Key Performance Indicators (KPIs)

• Timeliness and accuracy of monthly/quarterly/annual closing.
• Audit completion within agreed timelines with minimal adjustments.
• 100% compliance with VAT, Corporate Tax, and regulatory filings.
• Accuracy of project costing and revenue recognition.
• Effective cash flow management and DSO improvement on receivables.
• Team performance, development, and retention.

Work Location: In person