Radiant Real Estate: Unit Sales, PDCs, and IFRS 15 Revenue on One Platform

Company Overview

Radiant Real Estate is an Abu Dhabi-based developer delivering luxury residential, commercial, and mixed-use projects, including Radiant Square and Radiant Marina Towers on Al Reem Island. Selling units off-plan while managing tenants and long collection cycles, Radiant needed unit sales, tenant servicing, and developer-grade revenue recognition in one platform.

What We Did

Azdan implemented property sales management on NetSuite: the full unit inventory across towers, floors, and units, with statuses, pricing, and reservations, plus the sales workflow from booking through SPA execution and payment plan setup. Sales, finance, and management all work from the same live unit availability.

We deployed a tenant portal giving tenants self-service access to their lease details, statements, and payments, reducing the load on the property management team and giving tenants a modern service experience consistent with the brand.

We built post-dated cheque (PDC) management, a critical requirement in the UAE market: PDCs received against payment plans and leases are registered, tracked through their lifecycle (on hand, deposited, cleared, bounced), and reflected in cash flow forecasting, replacing manual cheque registers with a controlled, auditable process.

Finally, we implemented revenue recognition compliant with IFRS 15 for real estate development, recognizing revenue on unit sales appropriately over the project lifecycle rather than at cash receipt, with the deferred revenue schedules and disclosures auditors expect from a developer.

Results Achieved

• Sales, finance, and management all work from the same live unit availability across towers, floors, and units, from booking through SPA execution.
• Tenants self-serve their lease details, statements, and payments, reducing the load on the property management team.
• PDCs are registered and tracked through their full lifecycle and reflected in cash flow forecasting, replacing manual cheque registers with a controlled, auditable process.
• Revenue on unit sales is recognized in line with IFRS 15 over the project lifecycle, with the deferred revenue schedules and disclosures auditors expect from a developer.

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