Kezad Group, a subsidiary of AD Ports Group, has signed a 50-year land lease agreement with Al Ghurair Foods to set up three mega food processing projects with total investments worth more than Dh1 billion ($272 million) to boost the UAE’s food production capabilities and enhance food security.
As part of the deal, Al Ghurair Foods, which is part of the Dubai-based business conglomerate Al Ghurair Investment, will set up a starch processing plant ― the first of its kind in the region ― as well as a broiler production unit at Kezad, AD Ports said in a statement on Friday to the Abu Dhabi Securities Exchange, where its shares are traded.
Al Ghurair Foods will also be involved in a third project, linked to the debut of Abu Dhabi Food Hub, Kezad, which will form “an all-new supply market for the UAE”.
The new projects will come up in an area spanning one square kilometre.
“The projects are set to drive the UAE’s food production capabilities and enhance the Emirates’ position as a regional hub driven by innovation and technology,” AD Ports said.
The latest development comes as the UAE and other GCC countries support ventures focused on boosting food security in the region amid supply chain disruption caused by the coronavirus pandemic.
Last year, AD Ports said it was developing one of the region’s largest food trading and logistics centres at Kezad, in partnership with the UAE’s Ghassan Aboud Group, to boost food security in the region.
“We are confident that this agreement will drive the nation’s food security agenda and further enable Kezad's aim of improving domestic food supply and enhancing the nation’s capacity to respond to future challenges,” said Abdullah Al Hameli, chief executive of economic cities and free zones at AD Ports.
AD Ports launched Kezad Group in September to consolidate and grow its Economic Cities and Free Zones offering, as it seeks to strengthen the emirate's position as an industrial and manufacturing centre.
The company's Khalifa Industrial Zone Abu Dhabi (Kizad) and ZonesCorp ― specialised economic zones ― have been integrated into Kezad Group, which comprises 12 economic zones with a total area of 550 square kilometres.
“Through this agreement, we are proud to continue the pioneering legacy of Al Ghurair, establishing future-focused projects that support national food security,” said John Iossifidis, group chief executive of Al Ghurair Investment.
Al Ghurair Investment is one of the largest diversified family business groups in the Middle East, with operations in seven sectors including foods, resources, properties, construction, energy, mobility and ventures.
Al Ghurair Foods, set up in 1976, manufactures and supplies food in the UAE, shipping more than 10 million tonnes each year.
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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
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
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MATCH INFO
Uefa Champions League semi-final:
First leg: Liverpool 5 Roma 2
Second leg: Wednesday, May 2, Stadio Olimpico, Rome
TV: BeIN Sports, 10.45pm (UAE)
Results
STAGE
1 . Filippo Ganna (Ineos) - 0:13:56
2. Stefan Bissegger (Education-Nippo) - 0:00:14
3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21
4. Tadej Pogacar (UAE Team Emirates) - 0:00:24
5. Luis Leon Sanchez (Astana) - 0:00:30
GENERAL CLASSIFICATION
1. Tadej Pogacar (UAE Team Emirates) - 4:00:05
2. Joao Almeida (QuickStep) - 0:00:05
3. Mattia Cattaneo (QuickStep) - 0:00:18
4. Chris Harper (Jumbo-Visma) - 0:00:33
5. Adam Yates (Ineos) - 0:00:39
COMPANY%20PROFILE
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Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
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57%20Seconds
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
