AF22795 - Regional Financial Controller | Al Futtaim Group Real Estate | Dubai

Department: Al Futtaim Real Estate
Country: United Arab Emirates
Location: Dubai | UAE
Closing Date: 18-Apr-2016

Established in the 1930s as a trading business, Al-Futtaim is one of the most progressive regional business houses headquartered in Dubai, United Arab Emirates.

Al-Futtaim employs in excess of 44,000 people, operates through more than 200 companies and represents more than 225 international brands across industries as diverse as retail and wholesale trading, distribution, real estate development, leisure and hospitality, insurance and financial services. The group has significantly expanded its business operations in recent years through a strategic acquisition plan and has entered a number of new territories, increasing its footprint beyond the GCC and Greater Middle East to encompass Africa, South East and North Asia, Australasia, East Africa and Europe.

Entrepreneurship and rigorous customer focus has enabled Al-Futtaim to grow its business by responding to the changing needs of the customers and societies in which it operates. Al-Futtaim is committed to offering customers an unrivalled choice of the world’s best brands with exceptional standards of customer service and after sales support.

Structured into four operational divisions; automotive, financial services, real estate and retail, Al-Futtaim maintains a decentralised approach, giving individual businesses flexibility and versatility to maintain a competitive stance. This benefits employees, providing a clearly defined work culture where individuals are empowered with authority and responsibility for their work.

The success of Al-Futtaim is attributed to proactively managing change whilst upholding the values of integrity, service and social responsibility. The majority of businesses, built on a portfolio of world leading brands, dominate their sector.

Real Estate

Al-Futtaim Group Real Estate (AFGRE) is responsible for the development and operations of Al-Futtaim’s real estate businesses across the Middle East and North Africa which includes:

Dubai Festival City, a 520 hectare waterfront mixed use community, opened in 2005.

Cairo Festival City, a 290 hectare mixed use development, opened in DeceMDer 2013. .

Doha Festival City, comprising 433,847 sq m (land) + 250,000 sq m (GLA), IKEA opened in March 2013.

Under Development:

  • Al Diriyah Festival City, Riyadh, Saudi Arabia: 260,000 sq m
  • Muscat Festival City, Oman: 100,000 sq m
  • Casablanca Festival City, Morocco: 120,000 sq m

Al-Futtaim Real Estate

Al-Futtaim Real Estate offers comprehensive services from selection of site and feasibility studies to construction and property management. The range of properties administered and leased in the UAE includes warehouses, showrooms, workshops, offices, villas and apartment buildings. Al Futtaim's warehousing complex at Rashidia in Dubai, measuring over one million square feet, is by far the largest owned by any company in the Gulf. This is used as a central warehouse for the group, stocking vast quantities of electronic goods, automobiles, commercial vehicles, heavy equipment and inventories of spare parts. The company also has some 200,000 square feet of showroom space and 600,000 square feet of workshops in Dubai, Abu Dhabi, Fujairah, Sharjah, Ajman and Umm Al Quwain. Among the largest of these are the showrooms of Al Futtaim Panatech and Al Futtaim Motors in Dubai.

Residential properties in Dubai owned by Al Futtaim Real Estate, include some 900 apartments and villas like Al Garhoud, Safa village and Al Hamriya Villa Compounds, Dar Al Muteena, Dar Al Buteen, Dar Al Buteen II, Dar Al Khabeesi, and Dar Al Muragabat. These properties are characterised by a high standard of accommodation and leisure facilities. In keeping with the economic growth of the United Arab Emirates and Dubai, it is envisaged that Al-Futtaim Real Estate will concentrate its efforts and resources towards the development of prestigious real estate complexes to supplement the growing demand for commercial and residential properties.

About the Position:

The purpose of this job is to ensure operational and financial control across the Real Estate regional businesses.  The Financial Controller will support the senior management team in terms of analysis of market trends, control of financial performance, financial and management accounting, mapping and control of processes and procedures, liaison with internal and external audit, strategic planning, budgeting and forecasting.

Reporting to the Regional General Manager of Finance, the Financial Controller is responsible for leading the accounting and finance function on a day-to-day basis and supporting the strategic direction

This role will also support the Regional General Manager Finance in transaction support, reporting services and coordination to the various Real Estate and Group Finance Business Units (inclyding Group Finance, Group Treasury, Group Corporate Finance and Finance.

This role will  bridge the gap between existing buines unit Operational Finance teams and Corporate Real Estate Finance , offering a group real estate perspective and coordination on: governance, medium term business planning, funding, capital budgeting, investment decisions, taxation strategy, Shareholder and Real Estate Board reporting/communication.

The Regional Finance team will be responsible for AFGRE Corporate Finance activities across Dubai, Egypt, Doha, KSA and Oman (plus new geographies) including coordination and reporting for:


  • Real Estate Treasury management including debt/equity structuring/restructuring, funding of new projects, maintenance and refinancing of existing loans, monitoring of loan covenants and medium term cash flow forecasting / reporting
  • Annual Budgets and medium term business planning) - Overall responsibility for planning, co-ordination, standardisation and presentation consistently across all of real estate
  • Capital Budgeting including review of Capex approval documentation (Business Case Proposals) and co-ordination /  finalisation of Investment Committee Papers (New real estate projects)
  • Stakeholder engagement -  including Real Estate Board Reporting, Shareholder reporting and communications 
  • Finance representative for Doha and Oman (plus other new jurisdictions) - Coordinate, analyse and review finance related matters for new real estate projects
  • Corporate Governance - Standardisation and implementation of best practise governance and Internal Controls consistently across all of real estate
  • Support and analysis to the AFGRE Group Director and AFGRE CFO
About You:

The ideal candidate would be commercially oriented, process-oriented, possess excellent staff & task managerial skills, natural leader, pay close attention to detail, ensure compliance with laws and policies and have analytical thinking skills.

Additionally this role will require knowledge and experience of IFRS, real estate operations, Dubai real estate laws and guidelines

Minimum Qualifications and Knowledge:

  • Accounting / Finance qualification (CPA, CA, CMA, CFA, CIMA etc)
  • Knowledge of ERP Financial Software is necessary; SAP expertise will be preferred.
Minimum Experience:
  • Minimum of 10 years of experience in the field of Finance and Accounting, out of which a minimum of 4 years in the Real Estate industry at a management position
  • Experience in Real Estate / Construction / Project Management industries will be preferred
Note: you will be required to attach the following: 1. Resume/CV
Al-Futtaim offers highly engaging and supportive work environments in a culture that values, recognises and rewards quality performance.