JOB DESCRIPTION
Role Objective
To lead the financial planning, feasibility assessment, and regulatory compliance for real estate development projects across the UAE by delivering robust financial models, ensuring full adherence to RERA and Escrow regulations, optimizing project budgets and cash flows, and providing accurate IFRScompliant reporting. The role is responsible for safeguarding financial integrity across multiple project SPVs, supporting strategic decisionmaking through indepth financial analysis, and enabling profitable, compliant, and timely project execution.
Key Responsibilities
- Project Feasibility & Investment Analysis
- Prepare detailed financial models for residential, commercial, and mixed-use projects in the UAE.
- Conduct feasibility studies including IRR, NPV, development margins, and sensitivity analysis.
- Perform scenario analysis considering UAE market absorption rates, pricing trends, and cost escalations.
- Timely closure of books and accounting
- RERA & Escrow Compliance
- Ensure compliance with:
- Real Estate Regulatory Agency (RERA - Dubai)
- Dubai Land Department (DLD)
- Manage project escrow accounts as per Law No. 8 of 2007 (Dubai Escrow Law).
- Monitor construction progress certifications for escrow withdrawals.
- Coordinate with trustees and auditors for escrow reporting.
- Project Budgeting & Cost Control
- Develop detailed development budgets (land, construction, consultant fees, marketing, finance costs).
- Monitor cost-to-complete analysis.
- Track contractor certifications and progress payments.
- Work closely with Quantity Surveyors and Project Managers.
- Control finance cost allocation per project.
- Cash Flow & Revenue Management
- Prepare detailed project cash flow forecasts aligned with construction milestones.
- Monitor off-plan sales collections and SPA payment schedules.
- Track receivables and coordinate with Sales team on overdue collections.
- Manage VAT implications on real estate transactions.
- Ensure adequate liquidity across multiple project SPVs.
- Financial Reporting & IFRS Compliance
- Prepare monthly MIS and project performance reports.
- Ensure compliance with IFRS, particularly:
- IFRS 15 (Revenue Recognition)
- Coordinate with external auditors.
- Prepare feasibility vs. actual variance analysis.
- Key KPIs
- Project IRR & Gross Development Margin (GDM)
- Budget variance within approved limits
- Timely financial close of new projects
- Escrow compliance without penalties
- Cash flow adequacy ratio
- Qualifications
- CA or Equivalent
- 7-12 years of real estate development finance experience in UAE
- Strong understanding of RERA and Escrow regulations
- Advanced Excel financial modeling (mandatory)
- ERP systems ( Oracle, Kyriba)
- Understanding of UAE VAT regulations
- Experience in multi-project portfolio management
- Experience in joint venture (JV) structuring
