Chief Accountant - Real Estate Development

Position: Chief Accountant – Real Estate Development
Location: UAE
Reporting to: CFO

Role Overview

The Chief Accountant will lead the accounting function for a real estate development company, ensuring full compliance with UAE regulations, IFRS, VAT, and RERA/Escrow requirements. The role is critical in supporting off-plan sales, project accounting, cost control, and month-end reporting.

Key Responsibilities

Core Responsibilities

1. P&L Ownership & Financial Reporting (Key Accountability)

• Prepare monthly project-wise and entity-level P&L statements
• Ensure accurate cost classification (direct, indirect, overhead allocation)
• Analyze budget vs actuals and explain variances
• Track project profitability, margins, and cost leakage
• Support CFO with management P&L packs and dashboards
• Maintain clear linkage between P&L, balance sheet, and cash flow
• Support consolidation inputs where applicable

2. Real Estate & Project Accounting

• Maintain project-based accounting structure
• Monitor WIP, cost-to-complete, and accrued costs
• Support IFRS 15 revenue recognition for off-plan sales
• Manage unit inventory accounting (sold, unsold, handover status)
• Prepare project financial summaries for management review

3. Escrow, Compliance & Controls

• Manage RERA escrow accounts and withdrawal tracking
• Ensure all collections and payments comply with escrow rules
• Coordinate annual escrow audit and regulatory submissions
• Maintain audit-ready documentation at all times

4. VAT & Statutory Reporting

• Prepare and review VAT returns related to real estate activities
• Ensure correct VAT treatment for residential and commercial units
• Handle statutory filings and external auditor requirements

5. Month-End Closing & Accounting Operations

• Lead month-end and year-end closing
• Ensure accuracy of GL, AP, AR, accruals, provisions, and prepayments
• Reconcile balance sheet accounts on a monthly basis
• Maintain accounting policies and SOPs

6. Systems, ERP & Process Support

• Operate and improve ERP systems (Odoo / Oracle / SAP / Zoho)
• Ensure correct chart of accounts and project coding
• Support CFO in system migration, automation, and reporting improvements
• Strengthen internal controls and approval workflows

7. CFO Support & Management Requests

• Respond to ad-hoc financial requests from CFO and management
• Prepare financial schedules, explanations, and reconciliations as required
• Support Board, audit, and bank reporting packs when needed
• Act as the single point of truth for accounting numbers

Qualifications & Experience

• Bachelor’s degree in Accounting / Finance
• Professional certification preferred (ACCA / CPA / CMA)
• 7–10 years’ experience in UAE real estate development
• Strong knowledge of RERA, Escrow, VAT, IFRS 15
• Experience with off-plan projects is mandatory

Key Skills

• Strong analytical and reconciliation skills
• Hands-on, detail-oriented, and deadline-driven
• Excellent communication with internal and external stakeholders

Job Type: Full-time

Application Question(s):

• 1️⃣ Question – Real Estate Accounting Experience

Q:
Do you have hands-on accounting experience in a real estate development company in the UAE? Please briefly describe the type of projects you handled.

• 2️⃣ Question – Project & P&L Reporting

Q:
Have you prepared project-wise and company-level P&L reports? How often?

• 3️⃣ Question – Off-Plan Sales & Revenue Recognition

Q:
How is revenue recognized for off-plan real estate projects?

• 4️⃣ Question – Escrow & Regulatory Compliance

Q:
Have you worked with RERA escrow accounts and escrow audits?

• 5️⃣ Question – Accounting Systems Used (Final Question)

Q:
Which accounting or ERP systems have you used, and which one did you use most recently?

Education:

• Bachelor's (Preferred)

Experience:

• UAE real estate development: 7 years (Required)

License/Certification:

• no (Preferred)

Location:

• Remote (Preferred)

Work Location: Remote