Assistant Manager - Controlling I Real Estate I Finance

Job Requisition ID: 176909 

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate. 

By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

Overview of the role:

The Assistant Manager – Service Charge & Cost Allocation is the end-to-end owner of service charge governance, cost allocation integrity, and recoverability across Cairo Festival City’s residential, commercial, and retail (mall) assets.

The role has full accountability for designing and implementing the service charge framework from scratch, ensuring best-in-class practice in Egypt, compliance with local regulations, contractual requirements, and Al-Futtaim governance standards.

As the subject-matter expert on service charge economics, the role ensures that operating costs, shared services, intercompany allocations, and qualifying Capex are accurately classified, transparently allocated, fully substantiated, and appropriately funded through service charge collections and reserves.

The position partners closely with Asset Management, Property Management, Credit Control, Legal, Development, Shared Services Finance, Regional Finance, Internal Audit, and External Audit, acting as the single point of accountability for service charge accuracy, auditability, and dispute resolution

What you will do:

Service Charge Framework & Governance

• Design, implement, and govern the end-to-end service charge framework across residential, commercial, and retail assets.
• Establish service charge policies, methodologies, and allocation principles in line with regulations, contractual terms, and market best practices.
• Define and enforce cost classification (service charge vs. company expense vs. Capex).
• Act as the key point of contact for all service charge governance matters.

Cost Allocation & Recoverability

• Ensure accurate and transparent allocation of service charge expenses across assets, buildings, and units.
• Review and validate shared services, regional, and intercompany cost allocations.
• Ensure all allocated costs are appropriate, recoverable, and contractually compliant.

Capex, Reserves & Maintenance Deposits

• Oversee Capex-related allocations within the service charge framework.
• Ensure proper reserve planning and management of maintenance deposits.

Collections & Dispute Resolution

• Collaborate with Credit Control to support collections and improve recovery rates.
• Support the resolution of tenant and customer disputes through clear and well-supported reconciliations.

Business Partnering & Advisory

• Review and classify business costs appropriately (service charge, company expense, or Capex).
• Act as a finance partner to Asset Management, Property Management, and Finance teams, providing guidance on service charge strategy and risks.

Intercompany Reconciliations & Governance

• Manage and oversee intercompany reconciliations across local and international entities.
• Ensure timely settlement of intercompany balances in line with agreed terms.
• Implement and maintain controls to ensure accuracy, completeness, and compliance with group policies.
• Liaise with relevant stakeholders to resolve discrepancies and ensure proper documentation and approvals.

Required Skills to be successful:

• Minimum 5-7+ years of finance experience, with significant exposure to real estate service charges, property management, or facilities management.
• Proven experience setting up service charge processes from scratch in a complex, multi-asset environment.

What equips you for the role:

• Bachelor’s degree in Accounting, Finance, or Commerce.
• Professional qualification (ACCA, CPA, CA, CMA, CIMA) is preferred.
• Strong knowledge of service charge accounting, cost allocation methodologies, and Egyptian real estate regulations.

About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years. 
Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.