Assistant Manager Finance

Confidential Company

Position Overview
The Assistant Finance Manager – Development Projects will play a critical role in supporting the financial management of new real estate development projects from inception through execution. This position is designed for a developer-focused organization and requires hands-on involvement in project setup, escrow account opening, cost planning, budget control, and regulatory compliance of RERA & DLD during the early and active stages of development.
The role demands a detail-oriented finance professional with strong exposure to UAE real estate development regulations, capable of working closely with project, legal, sales, and construction teams to ensure robust financial governance across newly launched projects. Key Responsibilities Escrow Account Opening & Regulatory Compliance • Handle the end-to-end process of opening escrow accounts for new real estate projects in compliance with UAE regulations (DLD / RERA or applicable authority). • Coordinate with banks, legal advisors, auditors, and regulatory authorities for escrow approvals and documentation. • Monitor escrow collections, releases, and utilization strictly in line with approved construction milestones. • Prepare and submit periodic escrow statements and compliance reports to authorities and management. • Ensure full compliance with UAE escrow laws throughout the project lifecycle. Project Accounting & Cost Control • Manage project-level accounting, including capitalization of development costs, contractor payments, and consultant fees. • Track construction costs, variation orders, and development expenses against approved budgets. • Review payment certificates and ensure alignment with physical progress and contractual terms. • Maintain strict cost control mechanisms to prevent budget overruns during development stages. Budgeting, Forecasting & Cash Flow Management • Assist in preparation of development budgets, construction budgets, and project cash flow forecasts. • Monitor actual performance versus budget and prepare variance analysis for management review. • Support funding drawdown planning and ensure timely availability of funds for construction activities. Treasury, Banking & Funding Support • Coordinate with banks for project-related accounts, escrow operations, guarantees, and facilities. • Support treasury functions including bank reconciliations, fund utilization tracking, and working capital monitoring. • Assist the Head of Finance in managing project-level funding requirements and cash deployment. Accounts Receivable, Payment Plans & Project Profit & Loss account • Setting up accounts receivable set up for freehold sales. • Preparing profit & loss account for the project. • Analyzing different payment plans for freehold sales.. Team & Cross-Functional Coordination • Work closely with project management, construction, procurement, sales, and legal teams.