On November 28, City Centre Deira will mark 30 years since its opened – a milestone for a mall that once embodied Dubai’s grand ambitions. When it was inaugurated in 1995, it was the largest mall in the UAE and one of the biggest in the Middle East, spanning 115,000 square metres.
Today, it may be overshadowed by newer malls, but City Centre Deira’s place in Dubai’s growth story remains integral.
New kind of mall
City Centre Deira was conceived by Dubai businessman Majid Al Futtaim as an “everything in one trip” destination. Rather than simply building a shopping centre, he envisioned a lifestyle hub where international brands, dining, entertainment and essential services could all be found under one roof – complete with ample parking and modern amenities. At that time, this model was novel in the Middle East.
The mall's location near the creek in Deira – the historic commercial heart of old Dubai – was intentional. At a crossroads linking Sharjah and Bur Dubai and minutes from Dubai International Airport, it offered the area its first modern, air-conditioned retail destination.
Deira was already a bustling district for gold, textiles and creekside trade, but had lacked a contemporary indoor space. The mall’s arrival played a vital role in transforming the area into a more modern urban district.
Sheikh Hamdan bin Rashid, brother of Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurated the mall at a ceremony attended by senior officials and dignitaries.
Series of firsts
City Centre Deira also introduced the Middle East’s first hypermarket. Initially called Continental, it was later rebranded as Carrefour, forming the foundation for the French retailer’s expansion into more than 15 countries with hundreds of shops.
Its 11-screen CineStar multiplex was founded by Majid Al Futtaim in 1999. Rebranded as Vox Cinemas, it now has 20 screens.
The mall was one of the first to gain its own station when Dubai Metro launched on September 9, 2009.
City Centre Deira has undergone several expansions and refurbishments. In 2013, a Dh22 million upgrade refreshed the central atrium, improved metro connectivity and revamped the food court.
Today, it has more than 118,000 square metres of retail space and 380 shops.
Retail empire
As the first mall in the Majid Al Futtaim portfolio, City Centre Deira’s success fuelled the company’s rapid expansion towards the $19 billion conglomerate it is today. The group now operates 29 malls in the Middle East – including Mall of the Emirates, Mall of Egypt, Mall of Oman and other City Centre destinations.
Growing with the city
Three decades on, City Centre Deira remains a popular Dubai mall, welcoming more than 22 million visitors a year. It is running activities throughout November to celebrate its 30th anniversary. For many longtime residents, it is a familiar landmark woven into the character of old Dubai – a place that has grown up with the city itself.
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
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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Results
6.30pm: Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m, Winner: RB Money To Burn, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm: Handicap (TB) $68,000 (Turf) 2,410m, Winner: Star Safari, William Buick, Charlie Appleby
7.40pm: Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m, Winner: Secret Protector, William Buick, Charlie Appleby
8.15pm: Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m, Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
8.50pm: Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m, Winner: Zakouski, William Buick, Charlie Appleby
9.25pm: Handicap (TB) $65,000 (T) 1,000m, Winner: Motafaawit, Sam Hitchcock, Doug Watson
