Abu Dhabi's Yas Bay Waterfront to open on December 1

Yas Bay Waterfront, a vibrant leisure and entertainment district on Yas Island, will open on December 1.

The destination will bring new dining concepts to Abu Dhabi, including the Ibiza-style beach club, Cafe del Mar, known for its distinctive ambience, music and Mediterranean cuisine; Paradiso, a globally renowned Mediterranean restaurant helmed by Nicole Rubi, the woman behind La Petite Maison, and Michelin-lauded chef Pierre Gagnaire; and critically acclaimed Japanese street-food concept, Akiba Dori.

Other offerings include the trilogy by Buddha-Bar, comprising Zeera, Bushra and the Siddharta Lounge, plus Hunter & Barrel, The Lighthouse, La Carnita, Daikan Izakaya, Lock Stock & Barrel, and Asia Asia.

Several other concepts will also open by the end of the year, including Emmy Squared, Drop Cafe, and family-friendly venue, Central, set to be an entertainment complex for all ages, similar to the one found in Wavehouse at Atlantis, The Palm.

Yas Bay Waterfront offers uninterrupted views of the Arabian Gulf, which has also inspired a series of bespoke artwork on display at the destination.

International artists such as Beastman, Fatspatrol, Monkeybird, as well as Supakitch & Koralie have curated exclusive pieces, with inspiration taken from the local culture, history and environment, as well as Abu Dhabi’s architecture.

In celebrating the waterfront destination's opening, visitors can expect a line-up of daily entertainment, performances and events such as DJ nights, parades and firework displays set to take place every weekend throughout December.

“The opening of Yas Bay Waterfront is another proud milestone for Yas Island,” said Gurjit Singh, chief portfolio officer at Miral. "This new destination supports our vision for Yas Island to become a global convergence for entertainment, leisure and business, as well as an attractive location for partnerships and investment opportunities.

“We are looking forward to welcoming residents and visitors to Yas Bay Waterfront to enjoy the exceptional experiences and distinctive international culinary adventure on offer.”

Scroll through the gallery below to see Abu Dhabi's new national aquarium:

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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

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers