An Ibiza-style beach club, a renowned Mediterranean restaurant and a sprawling lounge with skyline views can all be found at Yas Bay Waterfront.
The new leisure and entertainment hub on Yas Island opened to the public on Wednesday and The National paid a visit. The destination is opening in phases, meaning not everything is fully functional yet but will be in the coming months. In the meantime, we got to explore what is currently on offer.
As the temperature cools, the three-kilometre boardwalk is bound to become a favourite. The walking space is wide and offers beautiful views of the Arabian Gulf as well as Al Raha Beach skyline. It’s also ideal for watching the sunset, with its peaceful surroundings and plenty of spaces to sit.
There are bespoke artworks that have been commissioned and dotted around the attraction. For example, behind Pier 71 is a giant astronaut resting on a bench, while near Etihad Arena is an unmissable large sculpture emerging from the water.
In terms of dining, even though there are still many exciting concepts to come, what is currently on offer is also a welcome addition to the capital. Asia Asia, Daikan, Lock Stock & Barrel, Paradiso and Siddharta Lounge by Buddha-Bar are some of the restaurants that are now welcoming guests.
We tried out Paradiso, a Mediterranean restaurant helmed by Nicole Rubi, the woman behind LPM Restaurant, and Michelin-lauded chef Pierre Gagnaire. Originating in Cannes, France, the space has indoor and outdoor seating and offers everything from pizza to focaccia tartines and pasta to seafood dishes.
We ordered the rigatoni with fresh truffle (Dh130), the pizza with tomatoes and oregano (Dh70) and a chicken dish with a side of rice pilaf (Dh110). While the food is tasty, the portion sizes are a bit smaller than I expected for the price. We also tried the frosted lemon paradiso (Dh60) – a lemon sorbet and cream in a half-frozen lemon served in a bowl of ice. It was served with three sugar sticks, making it a mix of sweet and sour.
For those who prefer something more relaxed, there’s Siddharta Lounge by Buddha-Bar, which has outlets around the world including in Paris, Mykonos, Monte Carlo and Dubai. It offers stunning views of the surrounding area and also gives a front-row seat to the daily fireworks that will be ongoing until December 8.
But it isn’t only dining that Yas Bay has to offer. Popular Ibiza hot spot Cafe del Mar has also opened. The laid-back beach club has outposts in Australia, Thailand, Brazil and Azerbaijan to name only a few of its locations.
It brings with it an infinity pool that overlooks the water and cabanas that come with their own Jacuzzi. On the menu are Mediterranean-inspired dishes and Middle Eastern favourites. There’s also a DJ, which only makes sense as the beach club is famed for its legendary DJ sets.
While there’s still more to come, including The Central, a family entertainment complex, and Emmy Squared, an American restaurant known for its Detroit-style pizzas and handcrafted sandwiches, there’s plenty to be impressed with so far.
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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
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