General Accountant – Real Estate Developer (SPA & Real Estate Accounting)

Job Title: General Accountant – Real Estate Developer (SPA & Real Estate Accounts)

Position Overview

We are seeking a detail-oriented and experienced General Accountant with strong expertise in UAE real estate accounting, particularly in handling SPA (Sales Purchase Agreement) processes for off-plan and completed property sales.

The ideal candidate must have hands-on experience in the verification of SPA/RA documentation, payment schedules, customer collections, broker commissions, escrow reconciliation, and coordination with sales teams within a real estate developer environment. A strong understanding of UAE real estate financial operations, RERA compliance, VAT requirements, and accounting controls is essential.

Key Responsibilities

1. SPA & Real Estate Accounting Operations

• Verify and review SPA (Sales Purchase Agreements), Reservation Agreements (RA), Oqood-related documentation, and customer files for off-plan projects
• Prepare and maintain customer payment schedules as per SPA terms
• Review and approve customer receipts, collections, and allocation of payments
• Maintain accurate accounting records for real estate projects and entities
• Generate reports related to sales, collections, customer outstanding balances, and broker commissions
• Ensure broker and sales commission calculations are processed correctly as per company policy
• Handle escrow account reconciliation and related real estate financial transactions
• Support RERA audit requirements and AML compliance documentation
• Record journal entries for revenue, expenses, accruals, and adjustments
• Ensure timely monthly closing and reconciliation of accounts

2. Customer Collections & Receivables

• Track customer receivables, including booking amounts, instalment collections, and post-handover payments
• Monitor overdue payments and coordinate with collection teams for follow-up
• Maintain proper documentation for all customer financial transactions
• Prepare aging reports for customer receivables and payables
• Perform customer and vendor account reconciliations regularly

3. CRM & Sales Accounting Coordination

• Work closely with Salesforce CRM or similar real estate systems to monitor sales transactions and customer payment status
• Reconcile CRM sales data with accounting records and ERP systems
• Track installment schedules, booking status, and customer payment history
• Generate financial and operational reports related to:
• Sales collections
• Outstanding balances
• Broker/agent commissions
• Revenue tracking
• Coordinate with sales, collections, and finance teams to ensure data accuracy
• Support automation and tracking of commission calculations and invoice monitoring

4. Bank & Financial Management

• Perform daily and monthly bank reconciliations
• Monitor project cash flow and operational fund requirements
• Assist in payment processing and fund allocation
• Maintain proper control over income and expenditure accounts
• Support the preparation of financial reports and management reports

5. VAT & UAE Compliance

• Ensure proper VAT treatment for real estate transactions in accordance with UAE regulations
• Verify supplier invoices and tax invoices for VAT compliance
• Support the preparation of VAT workings and reconciliations
• Assist during VAT audits and FTA requirements
• Maintain audit-ready financial records and supporting documentation

Requirements & Skills

• Bachelor’s Degree in Accounting, Finance, or related field
• Minimum 5–7 years of UAE real estate accounting experience with a real estate developer
• Strong practical experience in SPA handling, customer collections, escrow reconciliation, and off-plan sales accounting
• Knowledge of RERA procedures, AML compliance, and UAE real estate regulations
• Experience in Salesforce, PACT, or similar ERP/CRM systems will be an advantage
• Strong proficiency in Microsoft Excel and accounting software
• Good communication and coordination skills
• Ability to work independently and handle multiple real estate projects simultaneously
• Thorough understanding of accounting principles and real estate financial processes