Ultra Luxury Real Estate Accountant

Job Title: Accountant

Department: Finance & Accounting
Reporting to: Finance Manager

Location: Dubai
Industry: Real Estate Development

Job Summary:

The Accountant is responsible for managing and recording revenue, monitoring accounts receivable, performing bank reconciliations, and supporting financial reporting for real estate development projects. This role ensures accurate and timely financial records in compliance with applicable accounting standards and regulatory requirements, especially for off-plan sales and escrow arrangements.

Key Responsibilities:

Revenue & Receivables:

• Record revenue in accordance with IFRS 15 (Revenue from Contracts with Customers).
• Align revenue recognition with construction milestones and project progress.
• Coordinate with Sales and Project teams to validate billing schedules and sales contracts.
• Prepare and issue customer invoices as per signed SPAs.
• Reconcile customer ledgers and ensure accuracy in receivable balances.

Escrow & Regulatory Compliance:

• Reconcile collections received into escrow accounts with unit sales and payment schedules.
• Liaise with escrow banks and ensure compliance with DLD/RERA regulations.
• Assist in preparing reports for regulatory submissions and escrow audits.

Bank Reconciliation:

• Perform daily, weekly, and monthly bank reconciliations for all operational and escrow accounts.
• Investigate and resolve reconciliation discrepancies and unrecorded transactions.
• Ensure that all bank transactions are accurately recorded in the accounting system.

Financial Reporting & Controls:

• Support month-end closing by providing accurate revenue, receivable, and bank-related entries.
• Prepare regular financial schedules and reports for internal and external stakeholders.
• Support external audits by providing required documentation and analysis.
• Maintain compliance with internal financial controls and accounting policies.

Qualifications & Experience:

• Bachelor’s degree in Accounting, Finance, or related field.
• 3–5 years of accounting experience, preferably in real estate or construction industry.
• Working knowledge of IFRS, especially IFRS 15 and IFRS 9.
• Experience with escrow accounts and real estate project finance is a must.
• Proficiency in accounting/ERP system MS Dynamics and MS Excel.

Key Skills:

• Strong attention to detail and accuracy.
• Solid analytical and reconciliation skills.
• Good communication and coordination across departments and with external banks.
• Familiarity with UAE real estate regulatory framework is an advantage.