Investcorp's real estate deal volume in US hit $4bn in 2021

Investcorp, the alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, conducted real estate deals worth $4 billion in the US in 2021, tapping into demand for residential and industrial properties.

The company bought 200 properties valued at $2.5bn and sold properties worth $1.5bn in the world's largest economy, it said on Monday.

“The record level of activity within our North American real estate business in 2021 has created many opportunities to help drive Investcorp’s growth and retain its position as a top cross-border real estate buyer and seller in the US,” said ‏‏‏‏executive chairman Mohammed Alardhi.

“Long before the pandemic, we perceived residential and industrial real estate investments to be one of the most recession-proof sectors, and this strategy has proven to be attractive given business and lifestyle changes, many of which were accelerated because of Covid-19.”

The Bahrain-based company invested $1bn of clients’ capital in US property last year and expanded its industrial holdings in the country to $3.5bn, comprising more than 425 buildings.

It also grew the value of its US residential assets to about $4.1bn across 18,000 multifamily units and 2,700 student housing beds.

“While we entered 2021 acutely aware of the short- and long-term changes Covid-19 could have on the real estate market, we have seen strong macroeconomic tailwinds inspiring continued optimism in these sectors,” said Michael O’Brien, Investcorp's co-head of real estate in North America.

“We remain bullish heading into 2022 and look forward to continuing to grow our platform.”

Since 1996, Investcorp has bought more than 1,000 properties worldwide, with a total value of more than $23bn.

The company aims to more than double its assets under management to $100bn in seven years' time, from $37.6bn as of June 30, 2021, Mr Alardhi told Bloomberg in September.

Investcorp also set up a new venture with two leading sovereign wealth funds to acquire industrial property assets in the US last year.

Sholto Byrnes on Myanmar politics

Why Myanmar couldn't rise to meet the world's expectations

Suu Kyi's unholy alliance with Orban is a new despicable low

The halo that once crowned Suu Kyi has been replaced

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

The National selections

Al Ain

5pm: Bolereau
5.30pm: Rich And Famous
6pm: Duc De Faust
6.30pm: Al Thoura
7pm: AF Arrab
7.30pm: Al Jazi
8pm: Futoon

Jebel Ali

1.45pm: AF Kal Noor
2.15pm: Galaxy Road
2.45pm: Dark Thunder
3.15pm: Inverleigh
3.45pm: Bawaasil
4.15pm: Initial
4.45pm: Tafaakhor

Marathon results

Men:

1. Titus Ekiru(KEN) 2:06:13

2. Alphonce Simbu(TAN) 2:07:50

3. Reuben Kipyego(KEN) 2:08:25

4. Abel Kirui(KEN) 2:08:46

5. Felix Kemutai(KEN) 2:10:48

Women:

1. Judith Korir(KEN) 2:22:30

2. Eunice Chumba(BHR) 2:26:01

3. Immaculate Chemutai(UGA) 2:28:30

4. Abebech Bekele(ETH) 2:29:43

5. Aleksandra Morozova(RUS) 2:33:01

Investcorp's real estate deal volume in US hit $4bn in 2021

The company bought 200 properties in the world’s largest economy, tapping into demand for residential and industrial properties

Sholto Byrnes on Myanmar politics

Ten tax points to be aware of in 2026

The National selections

Marathon&nbsp;results

Marathon results