Finance Manager – Real Estate Development

An Exhilarating Opportunity

Are You Ready for a Daring Challenge with The World’s Hottest Luxury Hotel Group? Disruptive by Design, FIVE Hotels and Resorts is Redefining ‘FIVE-Star’ Hospitality and Setting the Gold Standard across the Industry.

Join the FIVE Tribe - and Get Ready to Make Waves.

The Candidate

A Driven Self-Starter, you have Excellent Communication, Leadership and Organisational Skills. As an Astute Creative and Critical Thinker, you can Conceptualise and Implement Innovative Solutions in a Fast-Paced Environment. Not even the Smallest Detail Escapes Your Keen Eye and You Execute Tasks Proactively with Precision and Finesse. A ‘Can-Do!’ Attitude Coupled with An Inherent Flair for Taking Ownership Makes You a Highly Motivated Go-Getter.

Your Outgoing and Approachable Nature enables you to Seamlessly Connect with other ‘FIVERs’ and key Stakeholders, ensuring that Their and Your Journey at FIVE is nothing short of Sensational. Joining our FIVE Holdings Team as Finance Manager – Real Estate Development will Empower you to deliver Exceptional Experiences across our award-winning Lifestyle Destinations. Jump on Board and Unlock your Potential in a Buzzing Environment that will take your Career to New Heights!

What We’re Looking For

• Minimum of 3-5 years in finance or accounting, with a focus on project accounting, vendor management, and contract administration.
  
• Experience working in an SAP environment or similar ERP systems is highly preferred.
  
• ‘FIVE-Star’ knowledge of all relevant Accounting Software like Tally, including how to utilize Microsoft Office, such as Outlook, Excel, Word and PowerPoint.
  
• Strong attention to detail with the ability to identify discrepancies and inconsistencies in financial records.
  
• Superior Analytical and Problem-Solving Skills, with the competence to Exceed Expectations in dynamic and competitive operational environments.
  
• ‘FIVE-Styled’ Visionary thinking by finding Creative Solutions, while taking Ownership for all duties and tasks assigned and ensuring an unparalleled Journey at FIVE.
  
• Exceptional skills in Improving Customer and Stakeholder Satisfaction and Driving Profitability, showcasing a commitment to Industry-Leading Standards.
  
• The Resilience and Ability to work in an Environment that demands a Commitment to Excellence and Dedicated Hard Work.
  
• Next-Level Organizational and Leadership skills, effectively leading and inspiring the FIVE Tribe to New Heights.
  
• A 'People-Oriented' Leader, passionate about Motivating and Training a successful and productive Team.
  
• A hands-on attitude, fuelled by a ‘Can-Do!’ Spirit.
  

Key Responsibilities

• Ensure that Purchase Orders (POs) are tracked and updated regularly to reflect the correct status and amounts.
  
• Monitor and maintain cashflow reports to ensure liquidity and timely payments.
  
• Regularly update and maintain the Cost to Complete (CTC), incorporating original POs/Work Orders (WOs) and any variations to the contract.
  
• Maintain a detailed list of back charges and debit notes, ensuring accurate tracking and resolution.
  
• Conduct thorough reviews of contracts to ensure compliance with financial terms, payment milestones, and conditions.
  
• Process payments in line with contract terms, including milestone payments, advances, and retention amounts.
  
• Track and reconcile advance payments and retention amounts to ensure proper documentation and timely payments.
  
• Review and manage the final settlement agreements for vendors and contractors.
  
• Book invoices for customs and import VAT in compliance with relevant regulations.
  
• Coordinate with the bank as necessary for financial transactions and documentation.
  
• Manage the incoming Bank Guarantee Register, ensuring guarantees are renewed on time as per contractual agreements.
  
• Oversee the issuance of Letters of Credit (LC) for vendors and ensure payments under LC terms are processed timely.
  
• Track and analyze the difference between budgeted and actual costs, ensuring alignment with financial projections.
  
• Ensure timely and accurate accruals and provisions of costs are recorded in the financial system.
  
• Support monthly closures by ensuring all entries are accurately booked and reconciled before the close of each month.
  
• Oversee asset capitalization, particularly for refurbishments of existing assets and ensure proper reporting of assets under construction or refurbishment.
  
• Track and calculate percentage of completion for real estate development projects intended for sale.
  
• Monitor and report on CWIP for assets under refurbishment, including hotel units.
  
• Manage preopening expenses and payments related to new business ventures or properties.
  
• Ensure accurate settlement of development expenses as CWIP on a monthly basis.
  
• Prepare any additional reports or financial details as requested by management, providing insights as necessary.
  
• Utilize SAP or other accounting software for financial tracking, reporting, and data entry.
  
  

The Team

‘FIVERs’ are Cultured yet Chic, Confident yet Self-Effacing, and Work Hard to Play even Harder. As a FIVE Tribe Member, you'll Personify the distinct ‘Vibe at FIVE’ and apply it to create Insta-Perfect Experiences for our Guests that keeps them Coming Back for More. If you Dream of being surrounded by Like-Minded Individuals who share your Passion for Delivering Unforgettable Moments that last a Lifetime – then Look No Further and Unleash your Next-Level Potential.

Sustainable Indulgence at FIVE

FIVE is a leader in Sustainable Luxury Living and Hospitality, with its UAE-based Destinations being the first and only Hotels in the UAE to obtain the International Renewable Energy Certificates (I-REC) for achieving 100% renewable electricity for 2022. The company's Science-Meets-Styled ‘Sustainable Indulgence’ Ethos has led to a completely LEED Platinum-certified operational hospitality portfolio. FIVE Palm Jumeirah and FIVE Jumeirah Village are also 3 Star SPIRE Rated Smart Buildings. FIVE Zurich, the only LEED Platinum hotel in Switzerland, achieved an impressive 84 Points under LEED v4's BD+C and ID+C rating system, making it one of just five hotels worldwide to receive Platinum Certification. FIVE illustrates its Commitment to making ‘Sustainability without Compromise on Luxury Living’ central to its Future Vision, with FIVE LUXE already on track to acquire LEED Platinum (BD+C). These Achievements highlight FIVE’s Comprehensive and Committed Scope of Sustainability Strategy permeating Operations, Governance and Community.

An Equal Opportunity Employer

The FIVE Tribe represents over 70 nationalities across its over 1500 ‘FIVERs.’ FIVE is Committed to Hiring a Diverse and Inclusive Workforce as an Equal-Opportunity Employer. Accordingly, FIVE does not discriminate based on disability, race, age, sex, gender, sexual orientation, ethnicity, religion or belief, nationality, marital status, or any other basis protected under national or local laws. Ranked 10th on the Great Workplaces in the UAE 2023 list of Large Organisations, the FIVE Tribe is more than a group of people working together – it is a Family bonded by common Values and Goals, Celebrating People, Culture and Diversity.

About FIVE Holdings

FIVE Holdings is a vertically integrated Group, and its current Portfolio includes 3 luxury hotels in the UAE, FIVE Palm Jumeirah, FIVE Jumeirah Village and FIVE LUXE, a hotel in Switzerland, FIVE Zurich, 2 hotels in Spain, Destino Pacha and El Hotel Pacha, a nightclub in Spain, Pacha Ibiza, 2 eponymous Fashion Lines, FIVE Mode and The Pacha Collection in the UAE and Spain; as well as a range of assets that include Toy Room, and WooMoon Storytellers (Globally).

FIVE’s focus is on a ‘Global Sustainable Entertainment Ecosystem,’ which is the integration of immersive entertainment with homegrown F&B concepts that results in a distinctive guest experience for an international and affluent audience of luxury-loving, eco-conscious Millennial and Gen-Z customers. The success of FIVE’s ‘Global Sustainable Entertainment Ecosystem’ is evident in its RevPAR being 1.4X, its F&B PAR being 3X and its TRevPAR being 2.1X greater than their respective competitor sets in Dubai for 2023.

Find out more here: fiveglobalholdings.com

About FIVE Hotels and Resorts

FIVE Hotels and Resorts prides itself on being Disruptively Different and Daringly Unique. Our Growing Portfolio of Lavish Destinations are the epitome of Glamour and Experiential Luxury, and currently consists of FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE Zurich and FIVE LUXE. Joining our Exceptional FIVE Tribe means you are part of a team who Breaks Boundaries and offers Unbeatable Next-Level Experiences at FIVE’s award-winning Hotels, Dining Concepts, and 360-Degree Immersive Nightlife Venues. As part of the Accomplished FIVE Tribe, you will be part of a group of High Achievers who Fearlessly Challenge Conventions on a Global Stage.

Find out more here: fivehotelsandresorts.com