Job Description

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):

1?? 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.

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

3?? Question - Off-Plan Sales & Revenue Recognition
Q:
How is revenue recognized for off-plan real estate projects?

4?? Question - Escrow & Regulatory Compliance
Q:
Have you worked with RERA escrow accounts and escrow audits?

5?? 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