Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has announced an initiative to support Dubai’s affordable housing policy.
The first phase of the arrangement, Sheikh Hamdan said, will involve the development of tens of thousands of homes across Dubai spanning more than a million square metres. These homes are intended for skilled professionals of various nationalities in the public and private sectors, he added.
The homes will be built in Dubai's Muhaisnah 1, Al Twar 1, Al Qusais Industrial Area 5 and Al Leyan 1.
The agreement was signed by Dubai’s Roads and Transport Authority, Dubai Municipality and Wasl Group. It supports the Dubai 2040 Urban Master Plan.
“The first phase, covering six areas across Dubai and spanning 1.46 million square metres, will see the development of more than 17,000 homes for skilled professionals of various nationalities working across public and private sectors,” Sheikh Hamdan wrote in a post on X.
“Our goal is to offer quality housing that improves living standards for Dubai’s workforce and strengthens its status as one of the world’s best cities to live and work.”
Building for the future
Last week, Sheikh Hamdan inspected sites in Wadi Al Amardi and reviewed plans for other developments, amounting to more than 1,100 homes.
The three other sites are in Al Aweer, Hatta and Oud Al Muteena, with a total investment of Dh2 billion. The projects are in line with the Mohammed bin Rashid Housing Establishment’s work to support Emirati well-being.
A total of 1,163 houses are under construction: 432 in Wadi Al Amardi valued at Dh767.9 million, 398 in Al Aweer valued at Dh734.1 million, 213 in Hatta valued at Dh508.5 million, and 120 in Oud Al Muteena valued at Dh113.8 million.
Loan payments
Also last week, Sheikh Hamdan chaired a meeting of the Higher Committee for Development and Citizens Affairs in Dubai.
During the meeting, he announced that 426 citizens in the emirate would be exempted from housing loan payments worth a total of Dh146 million. He also announced the launch of the Thukhr initiative, which will honour Dubai’s retirees for their contributions to the emirate.
He later witnessed the launch of the Barwa programme. Developed by the Dubai Land Department and the Community Development Authority, it is aimed at empower senior citizens and those with disabilities to manage their properties independently and with ease.
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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.
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