Abu Dhabi Ports Group leased out 2.2 million square meters of industrial land to businesses in the first half of 2021, as rising economic activity within metals, food, technology and chemicals sector drove leasing activity.
The group leased land both in its industrial cities, as well as the free zones comprising Khalifa Industrial Zone Abu Dhabi (Kizad) and ZonesCorp.
"The rising demand on leasable land in Abu Dhabi for trade, logistics and industrial activities is a clear indication that the business ecosystem in the emirate continues to strengthen and grow,” Abdullah Al Hameli, head of Industrial Cities and Free Zone Cluster at Abu Dhabi Ports Group, said.
The UAE’s economy is expected to grow more than 4 per cent this year on the back of monetary and the fiscal support by the government and its rapid mass inoculation programme to curb the Covid-19 pandemic, Minister of Economy Abdulla bin Touq said. The UAE's IHS Markit Purchasing Managers' Index indicated continued momentum in the country's non-oil economy in August.
The industrial zones in Abu Dhabi are currently home to more than 1,500 businesses and some of the world’s leading global industrial players in sectors including advanced manufacturing, life sciences and biopharma, food and agricultural technology, machinery and equipment, maritime, logistics, chemicals and plastics.
It has also recently announced the completion of 1.38 million square metres of commercial and retail areas at Rahayel Automotive and Mobility City, the first integrated hub for the automotive industry in the region to accommodate a full range of auto-related businesses and support services.
Abu Dhabi Ports owns and manages 11 ports and terminals in the UAE and Guinea, including Khalifa Port, Zayed Port, Musaffah Port, Fujairah Terminals, Community Ports, Kamsar Port and Abu Dhabi Cruise Terminal. It operates more than 550 square kilometres of industrial zones within Kizad and ZonesCorp, the largest integrated trade, logistics and industrial business grouping in the Middle East.
Abu Dhabi Ports is set to go public before the end of the year, subject to market conditions and regulatory approvals, ADQ, the group's parent company, said.
The Porpoise
By Mark Haddon
(Penguin Random House)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
More on Quran memorisation:
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
