Finance Manager – Project Accounting

Job Description Finance Manager – Project Accounting (Real Estate Development)

Location: UAE
Department: Finance & Accounts
Reporting To: Chief Financial Officer (CFO) / Finance Director

The Finance Manager – Project Accounting will be responsible for overseeing the financial management of real estate development projects from feasibility assessment through project completion. The role requires strong expertise in project accounting, financial modeling, project finance, escrow management, budgeting, cost control, and stakeholder management with banks, investors, consultants, contractors, and regulatory authorities. The incumbent will play a key role in ensuring financial viability, funding availability, compliance with UAE real estate regulations, and accurate financial reporting of development projects.

• Prepare and review project feasibility studies for new real estate developments.
• Develop detailed financial models incorporating sales projections, construction costs, financing costs, cash flow forecasts, and profitability analysis.
• Conduct sensitivity analysis and scenario planning for project viability assessment.
• Evaluate investment returns including IRR, NPV, ROI, and project margins.
• Support management in investment decision-making and project acquisitions.

• Lead debt and equity fund-raising initiatives for development projects.
• Prepare financial information packages, presentations, and lender information memorandums.
• Liaise with banks, financial institutions, investors, and advisors for project financing requirements.
• Coordinate due diligence processes with lenders and investors.
• Negotiate financing terms, covenant requirements, and facility documentation in coordination with management and legal teams.
• Monitor compliance with financing agreements and reporting obligations.

• Manage relationships with banks and financial institutions.
• Coordinate project finance drawdowns and utilization of facilities.
• Monitor loan covenants and reporting requirements.
• Facilitate issuance, renewals, amendments, and cancellations of:
  • Performance Guarantees
  • Advance Payment Guarantees
  • Retention Guarantees
  • Corporate Guarantees
  • Other banking instruments

• Ensure compliance with UAE Real Estate Regulatory Authority (RERA) and escrow regulations.
• Coordinate with project auditors, consultants, and escrow banks for fund release approvals.
• Review and submit payment release applications from escrow accounts.
• Monitor escrow collections and utilization against approved project budgets.
• Maintain accurate records and reconciliations of escrow transactions.
• Liaise with regulatory authorities and escrow agents on project-related matters.

• Develop project budgets and cash flow forecasts.
• Monitor actual expenditures against approved budgets.
• Analyze cost variances and recommend corrective actions.
• Review commitments, contracts, and purchase orders to ensure budget compliance.
• Support value engineering initiatives to optimize project profitability.
• Prepare monthly project cost reports and management dashboards.

• Review interim payment applications submitted by contractors and consultants.
• Verify payment certifications against approved contracts and project progress reports.
• Coordinate with project management and consultants to validate work completion.
• Ensure timely processing and release of payments in accordance with contractual terms.
• Monitor retention, advance recoveries, and variation orders.

• Maintain complete accounting records for development projects.
• Ensure proper allocation and capitalization of project costs.
• Manage project-wise revenue recognition and cost accounting.
• Prepare monthly project profit and loss statements.
• Monitor project cash flows and funding requirements.
• Ensure compliance with IFRS and company accounting policies.
• Support annual audits and statutory reporting requirements.

• Prepare short-term and long-term project cash flow forecasts.
• Monitor funding requirements throughout the project lifecycle.
• Ensure adequate liquidity for project execution.
• Optimize utilization of debt and equity financing.

• Liaise with:
  • Banks and Financial Institutions
  • Investors and Shareholders
  • Project Auditors
  • Escrow Banks
  • Consultants and Contractors
  • Legal Advisors
  • Regulatory Authorities
  • Internal Project and Sales Teams
• Provide financial insights and reports to senior management.

• Ensure compliance with UAE regulations, escrow requirements, financing agreements, and company policies.
• Monitor project financial risks and recommend mitigation strategies.
• Strengthen internal controls over project expenditures and funding utilization.
• Support implementation of ERP and project accounting…