Abu Dhabi's Reem Island, a popular location for residents of the capital, will receive a new community featuring a man-made hill.
Q Properties' Reem Hills, its new Dh8 billion ($2.1bn) gated development, has been designed with enhanced greenery “to encourage its residents to indulge their senses”, the company said on Thursday.
As well as the man-made hill, the villa project will offer beach access, parkland, schools, mosques, a community centre and retail outlets.
“Reem Hills is an exclusive destination set around a unique, man-made hill, offering a serene lifestyle and an escape from the city life,” said Majed Odeh, chief executive of Q Holding.
The project will offer “the lowest rates for service charges across the majority of real estate projects”, he added.
Abu Dhabi registered real estate transactions worth Dh71.5 billion ($19.4bn) in 2021, as the UAE's property market continued to rebound from the coronavirus-induced slowdown.
The total number of transactions across sales and mortgage deals reached 14,958 last year, Abu Dhabi's Department of Municipalities and Transport said.
Yas Island topped the list of best-performing areas, registering Dh4.1bn in deals, followed by Reem Island (Dh3.2bn) and Saadiyat Island (Dh2.5bn).
The capital values of villas and apartments in Abu Dhabi rose to their highest level in five years in the fourth quarter of 2021, property consultancy ValuStrat said.
The emirate has also announced new launches to cater to growing demand. Aldar on Wednesday unveiled its Louvre Abu Dhabi Residences project, which offers views of the museum and the Arabian Gulf.
The residences will be within Saadiyat Grove and the development has an expected handover date of 2025.
It will comprise 400 apartments including studios, one, two- and three-bedroom apartments as well as five penthouses. All the units will be fitted with fixtures and built-in home appliances.
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Q Properties is a subsidiary of Abu Dhabi-listed investment holding company Al Qudra Holding, which this week rebranded as Q Holding. The company operates across sectors including real estate, services, hospitality and diversified investments, and has 12 subsidiaries.
“Q Holding will be a prominent force in the vanguard of the next phase of economic development, under the guidance of a leadership determined to rewrite the future of successful, sustainable investment by focusing on excellence, diversification and stakeholder value,” said Abdulla Al Hamed, Q Holding’s chairman.
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Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
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.
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Based: Business Bay, with offices in Saudi Arabia, Egypt and India
Sector: Technology, digital marketing and e-commerce
Size: 70 employees
Revenue: On track to make Dh100 million in revenue this year since its 2015 launch
Funding: Self-funded to date
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The five new places of worship
Church of South Indian Parish
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