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Contract TypeContract TypeFull-time
Workplace typeWorkplace typeOn-site
LocationLocationMakkah
About the Role:
We are seeking a Senior Accountant to manage and oversee all accounting and financial activities related to the company’s real estate and development projects. This role is critical for ensuring accurate project cost tracking, revenue recognition, budgeting, and financial reporting, while maintaining compliance with IFRS (including IFRS 15) and internal financial controls.

Key Responsibilities:
  • Project Accounting & Financial Control:
    • Oversee end-to-end project accounting processes, including cost allocation, WIP management, and project asset capitalization.
    • Maintain accurate project ledgers and ensure correct classification of expenditures (materials, contractors, consultants, manpower, and overheads).
    • Review and validate project-related invoices, progress certificates, retention, and milestone payments.
    • Monitor project cash flow, commitments, and actual costs versus approved budgets.
    • Ensure accurate and timely revenue recognition in line with IFRS 15 and applicable real estate accounting standards.
    • Prepare project financial statements and project-specific management reports.
    • Closely monitor payments to contractors and vendors, ensuring compliance with contractual terms.
  • Project Cost Monitoring:
    • Track project cost performance and identify variances between budget, forecast, and actual expenditure.
    • Prepare monthly project cost reports, dashboards, and variance analyses for project managers and senior management.
    • Support project managers in preparing budgets and cost-to-complete forecasts.
    • Prepare and update project budgets and forecasts in alignment with approved plans.
    • Maintain and monitor the commitments register (POs, contracts, subcontracts, and variations).
  • Project Governance & Compliance:
    • Ensure project spending complies with Delegation of Authority (DOA) and internal financial controls.
    • Support financial controls over procurement, contract management, and subcontractor billing.
    • Coordinate with Internal Audit to address project-related financial risks.
    • Prepare documentation required by external auditors for project assets, revenue, and cost validation.
  • General Accounting (Project-Linked):
    • Support month-end and year-end closing activities related to project accounting.
    • Reconcile project accounts, intercompany charges, and project-related balance sheet accounts.
    • Prepare asset capitalization schedules (PPE, investment properties, development properties).
    • Assist in VAT, Zakat, and tax reporting related to project costs and revenues.

Qualifications & Experience:
  • Bachelor’s degree in Accounting, Finance, or related field.
  • Minimum 6 years of accounting experience, including at least 3 years in project accounting.
  • Experience in real estate, construction, or project-based environments.
  • Strong understanding of project accounting, cost control, and IFRS.

Requirements

  • Requires 2-5 Years experience

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