A balcony view at Louvre Abu Dhabi Residences by Aldar. Photo: Aldar
A balcony view at Louvre Abu Dhabi Residences by Aldar. Photo: Aldar
A balcony view at Louvre Abu Dhabi Residences by Aldar. Photo: Aldar
A balcony view at Louvre Abu Dhabi Residences by Aldar. Photo: Aldar

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Property

Abu Dhabi megaprojects: four new developments announced so far in 2022

Thousands of new villas and apartments are set to come to the property market

Ian Oxborrow
Ian Oxborrow

March 22, 2022

  • English
  • Arabic

Abu Dhabi's skyline continues to evolve, and it certainly isn't finished yet.

A number of major new developments have already been announced in the capital this year, which will bring new communities in a variety of areas.

Here's a look at what's been announced so far in 2022:

Louvre Abu Dhabi Residences

  • Louvre Abu Dhabi Residences by Aldar is expected to have a handover in 2025. All renderings: Aldar
    Louvre Abu Dhabi Residences by Aldar is expected to have a handover in 2025. All renderings: Aldar
  • The view from a balcony that overlooks Louvre Abu Dhabi.
    The view from a balcony that overlooks Louvre Abu Dhabi.
  • Another rendering shows a view of the museum from the development.
    Another rendering shows a view of the museum from the development.
  • An illustration of a typical bedroom at Louvre Abu Dhabi Residences by Aldar.
    An illustration of a typical bedroom at Louvre Abu Dhabi Residences by Aldar.
  • The lobby will contain artwork selected in close consultation with Louvre Abu Dhabi.
    The lobby will contain artwork selected in close consultation with Louvre Abu Dhabi.
  • The cafe will also offer a view of the museum.
    The cafe will also offer a view of the museum.
  • A rendering of the living room with floor-to-ceiling windows.
    A rendering of the living room with floor-to-ceiling windows.
  • Another rendering of the lobby shows water features and sculpture.
    Another rendering of the lobby shows water features and sculpture.
  • The pool will have views of Louvre Abu Dhabi.
    The pool will have views of Louvre Abu Dhabi.
  • Residents will have their own private 12-seat cinema.
    Residents will have their own private 12-seat cinema.
  • They can also ask the concierge service to provide a private chef.
    They can also ask the concierge service to provide a private chef.
  • There are special concierge services on offer for residents, such as pet sitting and dog walking.
    There are special concierge services on offer for residents, such as pet sitting and dog walking.
  • A rendering of the Creativite Room, which includes a play area.
    A rendering of the Creativite Room, which includes a play area.

The name gives it away, doesn't it? The Louvre Abu Dhabi Residences by Aldar will be located next to the world famous museum and will also have great views of the sea.

Set within Saadiyat Grove, the project has an expected handover date of 2025. It will comprise 400 apartments including studios, one, two- and three-bedroom apartments and five penthouses. All the units will be fitted with fixtures and built-in home appliances.

Residents will be able to make use of a lounge, called La Salon Detente, which will have a 12-seat private theatre, a wellness centre, a gym with saunas, space for yoga and meditation and an indoor children’s playroom.

Inside the building will be art and sculptures resembling works exhibited at the museum, while penthouses will have a private panoramic elevator.

Prices start at Dh1.3 million ($353,982).

Reem Hills on Reem Island

Reem Hills on Reem Island. Courtesy Q Properties
Reem Hills on Reem Island. Courtesy Q Properties

Until now, Reem Island has largely featured high tower blocks.

The landscape is set to change however, after Q Properties unveiled Reem Hills — a $2.1 billion gated villa community with a man-made hill.

Although the size of the hill has not been disclosed, the developer said it will create a "serene lifestyle" offering beach access, parkland, schools, mosques, a community centre and retail outlets.

Nalaya Villas in the Najmat area of Reem is the only villa scheme currently available on the island.

Bloom Living

  • The town centre at Bloom Living. Courtesy Bloom Holding
    The town centre at Bloom Living. Courtesy Bloom Holding
  • The Bloom Living master plan. Courtesy Bloom Holding
    The Bloom Living master plan. Courtesy Bloom Holding
  • Bloom Living Toledo townhouses. Courtesy Bloom Holding
    Bloom Living Toledo townhouses. Courtesy Bloom Holding
  • A rendering of a three-bedroom villa in phase one at Bloom Living. All images courtesy Bloom Holding
    A rendering of a three-bedroom villa in phase one at Bloom Living. All images courtesy Bloom Holding
  • A rendering of a six-bedroom villa in phase one at Bloom Living.
    A rendering of a six-bedroom villa in phase one at Bloom Living.
  • A rendering of a three-bedroom villa in phase one at Bloom Living.
    A rendering of a three-bedroom villa in phase one at Bloom Living.
  • A rendering of a two-bedroom villa in phase one at Bloom Living.
    A rendering of a two-bedroom villa in phase one at Bloom Living.

Bloom Holding is also tapping into the success of the gated community model with its Dh9bn Bloom Living project.

It will feature more than 4,000 Spanish-style villas, townhouses and apartments surrounding a large lake.

The first phase of the development, located close to Abu Dhabi International Airport is named Cordoba after the Andalusian city. It is scheduled for completion by Q4 2024, the company said.

The project will span an area of 2.2 million square metres and will include a clinic, two international schools and a plaza containing shops, cafes and restaurants.

Prices start at Dh1.5m.

Al Nawras Island

A property from LXR Hotels & Resorts will open in Abu Dhabi next year. Photo: Hilton
A property from LXR Hotels & Resorts will open in Abu Dhabi next year. Photo: Hilton

While this one may not have the scale of Reem Hills and Bloom Living, it is just as eye-catching given the development is on a private island.

It consists of a luxury resort from LXR Hotels & Resorts, a hospitality brand under Hilton, and is set to open in 2023.

The development will have 80 beach and water villas, as well as a 450-square-metre, two-bedroom Royal Villa. It will also be home to a golf course.

There will be the usual resort amenities such as gym, fitness studio, swimming pools, tennis and padel.

The biog

Favourite films: Casablanca and Lawrence of Arabia

Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins

Favourite dish: Grilled fish

Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.

TEST SQUADS

Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Soumya Sarkar, Imrul Kayes, Liton Das, Shakib Al Hasan, Mominul Haque, Nasir Hossain, Sabbir Rahman, Mehedi Hasan, Shafiul Islam, Taijul Islam, Mustafizur Rahman and Taskin Ahmed.

Australia: Steve Smith (captain), David Warner, Ashton Agar, Hilton Cartwright, Pat Cummins, Peter Handscomb, Matthew Wade, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Matt Renshaw, Mitchell Swepson and Jackson Bird.

Dunki
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Essentials

The flights
Emirates flies direct from Dubai to Seattle from Dh6,755 return in economy and Dh24,775 in business class.
The cruise
UnCruise Adventures offers a variety of small-ship cruises in Alaska and around the world. A 14-day Alaska’s Inside Passage and San Juans Cruise from Seattle to Juneau or reverse costs from $4,695 (Dh17,246), including accommodation, food and most activities. Trips in 2019 start in April and run until September. 
 

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

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

Updated: May 12, 2023, 1:53 PM
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