Al Ghurair Foods has started developing its new poultry farm at Khalifa Economic Zones Abu Dhabi, the first of its three planned mega food processing projects aimed at boosting the UAE’s production capabilities and food security.
The 680,000-square-metre facility, built over an area of 7.2 square kilometres, is scheduled to become operational in 2025 and will create employment opportunities for more than 200 individuals, the unit of the Dubai-based Al Ghurair conglomerate said on Thursday.
It is part of a 50-year lease agreement between Al Ghurair Foods and Kezad Group signed in April last year, in which the former had pledged an investment of more than Dh1 billion ($272 million).
The poultry farm for broilers – chickens raised specifically for meat production – would be followed by a starch processing plant, said to be the first of its kind in the region, and another project in Abu Dhabi Food Hub at Kezad.
The project allows Al Ghurair Foods "to serve the growing demand for high-quality poultry products here in the UAE", Al Ghurair chief executive John Iossifidis said in the statement.
"Working with local partners such as Kezad in turn enables us to be closer to our customers, while fulfilling the UAE’s national ambitions to secure food supplies and increase self-sufficiency in food production.”
The UAE is ramping up efforts to ensure a stable food supply chain and boost food security with incentives and developments to attract investments into the key economic sector.
It aims to increase the contribution of food and agriculture to its economy by $10 billion and create 20,000 jobs in the next five years amid measures to improve the country's food security, Abdulla bin Touq, Minister of Economy, said in September.
The UAE's National Food Security Strategy 2051 aims to put the country at the top of the Global Food Security Index by that year.
Abu Dhabi's food industry is one of the largest contributors to the emirate's economy, accounting for about 36 per cent of the Emirates' food processing industry, latest data from the Industrial Development Bureau showed.
The sector spans a plethora of food production-related activities, including those dealing with meat and meat products, dairy, oils, grain mill products, beverages, confectionery, bakery products and animal feeds, according to the IDB, the Abu Dhabi Department of Economic Development unit that regulates the industrial sector.
Additionally, in January, Etihad Cargo, Abu Dhabi Airports and the Abu Dhabi Food Hub agreed to develop an air corridor to diversify trading and investments in food.
Sustainable methods have also been introduced, including vertical farming from the likes of Abu Dhabi clean energy company Masdar and Dubai's Emirates Airline, and a portable farm from Abu Dhabi University.
Chicken, meanwhile, is an important and popular meat in the UAE, but domestic production expansion is unable to fulfil rising demand, the US Department of Agriculture's Foreign Agricultural Service said in a March report.
As such, chicken meat imports are forecast to increase by 3 per cent in 2024, while production is projected to rise 7 per cent this year, spurred by improved margins, with consumption increasing 3 per cent, it said.
Globally, poultry consumption is expected to grow 15 per cent by 2032, and would account for 41 per cent of the protein consumed from all meat sources by that year, the Agricultural Outlook 2023-2032 report from the Organisation for Economic Co-operation and Development and the UN's Food and Agriculture Organisation showed.
The Al Ghurair-Kezad partnership "is underpinned by a shared vision to contribute to expansion of the UAE’s domestic food security", said Mohamed Al Ahmed, chief executive of Kezad Group.
This will be "able to support the UAE’s long-term goals, while providing a capable and innovative ecosystem for our partners", he said.
Al Ghurair Investment is one of the largest diversified family business groups in the Middle East, with operations in foods and resources, properties, construction and services, energy, mobility and ventures.
Al Ghurair Foods, founded in 1976, manufactures and supplies food in the UAE, shipping more than 10 million tonnes each year to 25 countries.
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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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If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
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Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
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Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
