Abu Dhabi's ADQ, one of the biggest holding companies in the region, has added Abu Dhabi Waste Management, better known as Tadweer, to its energy and utilities portfolio as it continues to diversify its assets.
The ownership of Tadweer was transferred to ADQ by the Abu Dhabi government after its conversion into a public joint stock company, ADQ said on Friday.
The addition of Tadweer complements ADQ’s efforts to shape the nation’s sustainable future and build an integrated portfolio of global champions within their diversified clusters.
The transfer further solidifies the holding company’s position in supporting the circular economy and driving “excellence across its expanding asset portfolio”, ADQ said.
“Waste management is a cornerstone of a circular economy, which contributes to a more sustainable future for the UAE,” said Hamad Al Hammadi, executive director of the energy and utilities portfolio at ADQ.
“Tadweer is a valuable addition to our energy and utilities portfolio, particularly as it plays a vital role in extracting value through recycling and the reuse of waste.
Tadweer adds to ADQ’s efforts and its investments across key clusters in the local economy that are already “contributing to a sustainable environment.”
ADQ’s energy and utilities portfolio includes assets including Abu Dhabi National Energy Company, better known as Taqa, the Emirates Nuclear Energy Corporation, better known as Ewec, the Emirates Water and Electricity Company and the Abu Dhabi Sewerage Services Company.
Tadweer is the sole company handling waste management in the emirate of Abu Dhabi. It aims to develop an integrated waste management sector and extract value from waste to contribute to national sustainability ambitions.
“Becoming part of the ADQ portfolio is a key milestone on our journey to transform Abu Dhabi’s approach to waste management,” said Tadweer's acting director general Ali Al Dhaheri.
“Developing an integrated waste management sector remains fundamentally important to Abu Dhabi and the health and safety of its community.”
Being part of Abu Dhabi’s largest portfolio of energy and utilities investments under the ADQ banner will strengthen “our proposition, help us forge new partnerships with its portfolio companies and achieve our goal of significantly reducing waste in landfills over the next decade”, Mr Al Dhaheri said.
The UAE plans to invest Dh600 billion ($163 billion) in clean and renewable energy sources in the next three decades as part of its Net Zero 2050 strategy.
National champions such as Taqa, one of the largest utilities and clean energy companies in the world, Ewec and Tadweer are leading Abu Dhabi’s efforts to develop a clean and sustainable economy as the country’s carries out its plans for the next 50 years of growth.
In July, Ewec and Tadweer issued a request for proposals for a new greenfield waste-to-energy independent power project being built in Abu Dhabi.
A total of 109 companies and consortiums presented their expressions of interest for the project. Proposals will be accepted until the fourth quarter of 2022, the companies said at the time.
The waste-to-energy plant will help to reduce carbon emissions from traditional waste management and will support the UAE's net-zero goals.
Established in 2018, ADQ’s investments span key sectors, including energy and utilities, food and agriculture, health care and life sciences, and transport and logistics.
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 burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE'S%20YOUNG%20GUNS
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PREMIER LEAGUE RESULTS
Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0
Bahrain%20GP
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
