Abu Dhabi’s International Holding Company (IHC) has acquired a 49 per cent stake in Modon Properties.
IHC Capital Holding, a unit of IHC, has signed a definitive agreement to buy a stake in the Abu Dhabi-based developer, the company said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded.
The total value of the deal, which is subject to obtaining regulatory approvals, was not disclosed.
Modon Properties is a project manager and developer of mixed-use real estate in Abu Dhabi.
It is leading the development of the Hudayriyat Island master plan that was unveiled by the government in June. The project, spanning more than 51 million square metres, will include residential communities and amenities.
IHC, the UAE's most valuable company, has investments in sectors including clean energy, food and agriculture, health care, real estate, information technology and artificial intelligence in 20 countries across Asia, Africa, Europe, North America and South America.
The conglomerate has made several strategic investments in recent quarters to expand its asset base in the UAE as well as in international markets.
Earlier this year, it acquired a 55 per cent stake in UAE-based recruitment company Reach Employment Services to increase its market share in the employment sector. The deal is valued at Dh315 million ($85.8 million).
Last year, the company bought a 54 per cent stake in Abu Dhabi’s information and communications technology provider Emircom for Dh250 million.
It is also teaming up with Aldar Properties and Adnec Group to merge their jointly owned property and facilities management businesses to create the Middle East region’s largest such company, the parties said last month.
In May, IHC Capital teamed up with with Grupo Nutresa, Grupo Sura, Grupo Argos – a Colombian conglomerate with investments in the cement and energy industries – and other business shareholders, in a push to expand its assets in South America.
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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Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
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