Project Accounting Manager

About the Role

This position calls for an experienced project accounting professional to oversee the financial side of real estate development and construction initiatives. The role covers project cost accounting, budgeting, financial reporting, capitalization, cash flow forecasting, contract accounting, and adherence to IFRS, SOCPA, and Saudi regulatory standards.

You will work closely with teams across Development, Engineering, Project Management, Procurement, Treasury, and Commercial functions to maintain strong financial control and governance throughout each project stage.

Key Responsibilities

• Direct project cost accounting activities and keep track of budgets, commitments, and spending.
• Manage construction accounting, work-in-progress balances, capitalization processes, and transfers to fixed assets.
• Build and update project budgets, forecasts, cash flow projections, and cost-to-complete reports.
• Assess contractor payment requests, contract changes, and retention amounts.
• Prepare monthly project finance reports, dashboards, and performance reviews.
• Contribute to revenue recognition for development projects in line with IFRS.
• Coordinate with Treasury on funding needs and project financing arrangements.
• Ensure ongoing compliance with IFRS, SOCPA, VAT, ZATCA, and internal company policies.
• Assist with ERP improvements and enhancements to project accounting processes.
• Manage, guide, and develop the Project Accounting team.

Requirements

• A bachelor’s degree in Accounting, Finance, Commerce, or a similar discipline is required.
• 8 to 12 years of experience in accounting and finance, including at least 5 years focused on project or construction accounting.
• Hands-on exposure to real estate development, construction, infrastructure, mixed-use, hospitality, or commercial development projects.
• Strong command of project cost control, CWIP accounting, capitalization, budgeting, forecasting, and financial reporting.
• Familiarity with ERP platforms such as Microsoft Dynamics 365, SAP, Oracle, or comparable systems.
• Advanced Excel capability; experience with Power BI will be considered an advantage.
• Strong leadership ability along with sharp analytical skills and stakeholder management experience.

Preferred Qualifications

• Professional credentials such as SOCPA, CPA, CMA, or ACCA are preferred.
• PMP certification would be a plus.
• Experience working on mega projects, project financing, or large-scale real estate developments in Saudi Arabia is advantageous.

Additional Information

This is a full-time, onsite position based in Riyadh, Saudi Arabia.

The opportunity is with a confidential government employer.

No stipend or salary figure was provided in the source.