• Team members gather at designated tents during the Hong Kong Dragon Boat Festival 2022 at the Waterfront Market in Deira. All photos: Khushnum Bhandari / The National
    Team members gather at designated tents during the Hong Kong Dragon Boat Festival 2022 at the Waterfront Market in Deira. All photos: Khushnum Bhandari / The National
  • The Waterfront Market team ready to race.
    The Waterfront Market team ready to race.
  • The Hong Kong Economic Trade Office team.
    The Hong Kong Economic Trade Office team.
  • The Hong Kong Economic Trade Office team in action.
    The Hong Kong Economic Trade Office team in action.
  • The Hong Kong Economic Trade Office team, centre, race against Waterfront Market, DP World 2 and Cortex at the Hong Kong Dragon Boat Festival.
    The Hong Kong Economic Trade Office team, centre, race against Waterfront Market, DP World 2 and Cortex at the Hong Kong Dragon Boat Festival.
  • Dragon boat racing originated 2,500 years ago in China.
    Dragon boat racing originated 2,500 years ago in China.
  • The teams were divided into five race categories: open, mixed, women, corporate and community.
    The teams were divided into five race categories: open, mixed, women, corporate and community.
  • The Waterfront Market team celebrate at the finish point.
    The Waterfront Market team celebrate at the finish point.
  • More than 60 teams took part in 200-metre-races during the two-day event.
    More than 60 teams took part in 200-metre-races during the two-day event.
  • Crowds were able to cheer on teams throughout the day from the market’s promenade.
    Crowds were able to cheer on teams throughout the day from the market’s promenade.
  • DP World 2 in action at the Hong Kong Dragon Boat Festival.
    DP World 2 in action at the Hong Kong Dragon Boat Festival.

Lifestyle

Things to do

Hong Kong Boat Festival takes place at the Waterfront Market in Deira

Dragon boat enthusiasts made their way to the popular souq for a two-day event

Evelyn Lau
Evelyn Lau

October 09, 2022

  • English
  • Arabic

Participants and fans of dragon boat racing made their way to the Waterfront Market in Deira as it hosted the first Hong Kong Dragon Boat Festival at the weekend.

More than 60 teams took part in 200-metres-races during the two-day event where crowds were able to cheer on teams throughout the day from the market’s promenade. The teams were divided into five race categories: open, mixed, women, corporate and community.

The event is hosted by Siren Dragon Boat, which also have a number of other activities throughout the year.

Dragon boat racing originated 2,500 years ago in China. Dragons, alongside the sun, are traditionally revered in Chinese culture and dragon boat races are meant to pay homage to these ancient beliefs.

The event was sponsored by the Hong Kong Economic and Trade Office in Dubai.

The bustling market, one of Dubai’s most popular souqs, is home to hundreds of vendors. It opened in 2017, having taken over from Deira’s famed Fish Market. The new sprawling site is a covered market with air-conditioning.

As well as being one of the largest fish markets in the Gulf, with about 400 vendors selling their fresh catches every single day, the market is home to a fruit and vegetables market, a meat market, and a spice and dry food market.

Click below to see images from the Dragon Boat Festival in Abu Dhabi

  • A dragonboat team paddles with the Sheikh Zayed Grand Mosque in the backdrop. All photos by Leslie Pableo for The National
    A dragonboat team paddles with the Sheikh Zayed Grand Mosque in the backdrop. All photos by Leslie Pableo for The National
  • Teams get into their boats to race at the Dragon Boat Festival in Abu Dhabi.
    Teams get into their boats to race at the Dragon Boat Festival in Abu Dhabi.
  • Dozens of teams took part in the festival.
    Dozens of teams took part in the festival.
  • One of the teams gets ready to race.
    One of the teams gets ready to race.
  • Teams prepare for a programme of racing.
    Teams prepare for a programme of racing.
  • The Emirates Team at the Dragon Boat Festival Abu Dhabi.
    The Emirates Team at the Dragon Boat Festival Abu Dhabi.
  • The Dragon Boat Festival Abu Dhabi takes place in the Between Two Bridges area of the capital. Leslie Pableo for The National
    The Dragon Boat Festival Abu Dhabi takes place in the Between Two Bridges area of the capital. Leslie Pableo for The National
  • High fives as the Emirates team win a race.
    High fives as the Emirates team win a race.
  • A team gives out instructions to his team before a rac.e
    A team gives out instructions to his team before a rac.e
  • Spectators watch in the shade on a warm day in Abu Dhabi.
    Spectators watch in the shade on a warm day in Abu Dhabi.
  • Two participants warm-up before the race.
    Two participants warm-up before the race.
  • Time for a group photo.
    Time for a group photo.
  • Teams prepare for the big race.
    Teams prepare for the big race.
  • Out on the water.
    Out on the water.
  • A man congratulates a team after they finished their race.
    A man congratulates a team after they finished their race.
MORE US ELECTION OPINION
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.

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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

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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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