Associate Director - Commercial Finance - Dubai Holding Land Estate

Dubai Holding; United Arab Emirates; On-site; AED 80,000 - 150,000; Full time

Job summary

An established industry player is seeking an Associate Director - Commercial Finance to lead budgeting and financial management efforts. This role involves overseeing land transactions, ensuring compliance with accounting standards, and collaborating with various teams to enhance financial operations. The ideal candidate will possess extensive experience in corporate finance and land banking, along with a strong grasp of international financial reporting standards. Join a dynamic team dedicated to shaping the future of urban development in Dubai and enjoy a comprehensive benefits package that supports your career growth.

Benefits

Competitive Compensation

Career Development Opportunities

Collaborative Work Environment

Qualifications

• 7-10 years experience in corporate finance and budgeting.
• In-depth understanding of real estate business and IFRS.

Responsibilities

• Manage land commercial transactions and financial impacts.
• Review and manage project budgets and land bank reconciliation.

Skills

Corporate Finance

Budgeting

Financial Reporting

Land Banking

Accounting Standards (IFRS)

Education

CA/ACCA/CPA

Tools

Financial Policies

Cost Models

Job description

About Dubai Holding Land Estate:

Dubai Holding Land Estates oversees a diverse land portfolio strategically located across Dubai's most sought-after areas. With convenient access to major highways, nearby amenities, and flexible land use options, investors are presented with unique opportunities for development and growth.

Through the centralisation of Dubai Holding's land bank, Dubai Holding Land Estates focuses on large-scale master plans, ensuring alignment with the Dubai 2040 Urban Master Plan, whilst also supporting the business's commitment to sustainable urban development and strategic land portfolio management.

About the Job:

An opportunity has arisen for an Associate Director - Commercial Finance to join Dubai Holding Land Estate. The main duties and responsibilities of this role:

Key Accountabilities

Budgeting and Forecasting

Manage all land commercial transactions with respect to costing, master plan level infrastructure impacts, pricing and financial impacts.

Review and manage all financial transactions and land bank accounting including POC workings and revenue recognition.

Review and manage project budgets, construction costs, and capital expenditure tracking.

Review and manage land bank reconciliation, track changes in land bank and related GFAs and ensure land bank financial records are updated accordingly.

Manage the process of developing DHLE budgets and finalize budget plans and schedules in line with Group policies and procedures to ensure the integrity of budget data, appropriateness and reliability of the key assumptions and control mechanisms.

Manage the process of ensuring accuracy in land bank accounting and align it with accounting standards and internal controls.

Review the relevant schedules (IP/ PHDS) and ensure these are prepared in a timely and accurate manner and submit them to the relevant teams as per agreed timelines.

Liaise with auditors, external consultants, and other advisors when required.

Work with DHRE finance and GS finance and ensure services are being delivered as per agreed SLAs.

Review and monitor the cost at project level, identify and suggest if any impairment is triggered.

Provide financial insights on development contracts, including active tracking of spend, linking it to property level costing and revenue recognition.

Review EMC papers relating to Value Added Services VAS, land sales, project feasibilities and Quarterly Project Review Reports and ensure those are fully complied with EMC quality standards.

Prepare any project Ad-hoc analysis for decision making purposes.

Review and finalise project accruals and legacy provisions.

Review of quarterly clearance pack and GRP with statutory reporting team.

Reports, Systems and Tools.

Design and implement financial policies and procedures relating to land bank accounting and cost models in alignment to business objectives and identify opportunities for continuous improvement.

Develop land bank policies, process, procedures, forms and templates to ensure adequate land bank controls and reporting structure for overall commercial Finance operations.

Ensure Policies, processes, procedures forms and templates in place, approved and implemented

About you:

The ideal candidate for this position will have the following experience and qualifications:

• Experience of a minimum of 7 to 10 years experience with at least 5 years of experience in corporate finance, land banking, budgeting and reporting.
• CA/ACCA/ CPA (Chartered Accountant/ Association of Chartered Certified Accountants/ Certified Public Accountant or similar) preferred
• In depth understanding of real estate business, accounting matters, relevant regulatory matters and international financial reporting standards (IFRS)
• Comfortable working in dynamic and performance driven environment

About the Benefits:

At Dubai Holding, we're committed to nurturing the success and well-being of our colleagues. Join our dynamic and diverse team, and enjoy a comprehensive benefits package that includes competitive compensation, career development opportunities, and a collaborative work environment. We strongly believe in creating an empowered workforce that will help us build a connected city for tomorrow. We are committed to attracting the brightest minds and nurturing the most pioneering candidates who desire to make a great impact on the future of Dubai.