Prince Khalid bin Al Faisal, chairman of the Saudi Automobile & Motorcycle Federation (SAMF), inaugurates the 'Saudi Stars' initiative in Jeddah.
Prince Khalid bin Al Faisal, chairman of the Saudi Automobile & Motorcycle Federation (SAMF), inaugurates the 'Saudi Stars' initiative in Jeddah.
Prince Khalid bin Al Faisal, chairman of the Saudi Automobile & Motorcycle Federation (SAMF), inaugurates the 'Saudi Stars' initiative in Jeddah.
Prince Khalid bin Al Faisal, chairman of the Saudi Automobile & Motorcycle Federation (SAMF), inaugurates the 'Saudi Stars' initiative in Jeddah.

Prince Khalid: Saudi Arabia GP just the start of making kingdom a motorsport powerhouse


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Saudi Arabia is gearing up to host its inaugural Grand Prix this weekend to mark the start of an ambitious 20-year plan to create the kingdom's own team, future world champion and car manufacturer.

The F1 season's penultimate race on December 5 will transform the Red Sea city of Jeddah into the world’s fastest street circuit, while a racetrack is already being constructed for future events at Qiddiya in Riyadh.

It is one of the closest title races in years with Lewis Hamilton and Max Verstappen trading races and barbs as they bid to claim the drivers' crown, which finishes in the season-ending Etihad Airways Abu Dhabi Grand Prix on December 12, and Saudi Arabia will play a key role in who claims the honours.

Prince Khalid bin Al Faisal, chairman of the Saudi Automobile & Motorcycle Federation, revealed the Jeddah showpiece is just the start of some huge investments and pioneering projects in the Kingdom.

“What you see now is only five per cent of what Saudi Arabia plans for,” Prince Khalid told The National. “We are working on building a new generation of drivers who will join the biggest sports events and win championships.

“I want to see Saudis not just as drivers but also mechanics, and a Saudi manufacturing company that creates and exports parts and technologies to other countries in the future. We want to have a Saudi team, a Saudi champion, a Saudi mechanic, Saudi engineers, we want to manufacture cars in the Kingdom.”

The Prince said the country’s motorsports experts are “working on a 20-year programme which requires a lot of investment, time and patience".

The Motorsports City at Qiddiya, due to be completed by 2026, will have more than 25 tracks for bikes, drag racing, rallying and more. Prince Khalid said the country is “very lucky to have the Crown Prince Mohammed bin Salman” to develop a sporting future, and the current generation of children are already being nurtured in motorsports by the Ministry of Education.

  • The Jeddah Corniche Circuit will host the inaugural Saudi Arabian Grand Prix. All photos: Saudi Arabian GP
    The Jeddah Corniche Circuit will host the inaugural Saudi Arabian Grand Prix. All photos: Saudi Arabian GP
  • The Jeddah Corniche Circuit will host the Saudi Arabian Grand Prix on December 3-5.
    The Jeddah Corniche Circuit will host the Saudi Arabian Grand Prix on December 3-5.
  • The Jeddah Corniche Circuit has a track length of 6,175 km, making it the second longest on the calendar.
    The Jeddah Corniche Circuit has a track length of 6,175 km, making it the second longest on the calendar.
  • Average speeds at the Jeddah Corniche Circuit are expected to reach 252kmph - the fastest street circuit on the calendar.
    Average speeds at the Jeddah Corniche Circuit are expected to reach 252kmph - the fastest street circuit on the calendar.
  • Around 37,000 tons of asphalt have been used in the construction of the Jeddah Corniche Circuit.
    Around 37,000 tons of asphalt have been used in the construction of the Jeddah Corniche Circuit.
  • The Jeddah Corniche Circuit will host the Saudi Arabian Grand Prix. Photo: Saudi Arabian GP
    The Jeddah Corniche Circuit will host the Saudi Arabian Grand Prix. Photo: Saudi Arabian GP
  • The Jeddah Corniche Circuit pit lane.
    The Jeddah Corniche Circuit pit lane.
  • Seven permanent landmarks and statues will be positioned inside the Jeddah Corniche Circuit.
    Seven permanent landmarks and statues will be positioned inside the Jeddah Corniche Circuit.
  • More than 300 engineers from various disciplines have been involved in the construction of the Jeddah Corniche Circuit.
    More than 300 engineers from various disciplines have been involved in the construction of the Jeddah Corniche Circuit.
  • Saudi Arabia is all set to host its inaugural F1 Grand Prix.
    Saudi Arabia is all set to host its inaugural F1 Grand Prix.
  • The team garages at Jeddah Corniche Circuit.
    The team garages at Jeddah Corniche Circuit.
  • Finishing touches are being applied to the Jeddah Corniche Circuit.
    Finishing touches are being applied to the Jeddah Corniche Circuit.
  • The Jeddah Corniche Circuit undertook a lagoon regeneration project, following which wildlife has returned to the nearby waterbody.
    The Jeddah Corniche Circuit undertook a lagoon regeneration project, following which wildlife has returned to the nearby waterbody.
  • The Jeddah Corniche Circuit is almost complete.
    The Jeddah Corniche Circuit is almost complete.
  • The Jeddah Corniche Circuit in Saudi Arabia.
    The Jeddah Corniche Circuit in Saudi Arabia.
  • Work on the Jeddah Corniche Circuit is set to complete in a few days.
    Work on the Jeddah Corniche Circuit is set to complete in a few days.
  • The Jeddah Corniche Circuit is the longest street track in F1.
    The Jeddah Corniche Circuit is the longest street track in F1.
  • The Jeddah Corniche Circuit.
    The Jeddah Corniche Circuit.

“We can then take this generation, train and let them race in go-karting and place them in single-seaters in F3 and F4. By the time they turn 18 or 20, we hope to have them race in a MotorGP or Formula One,” he said.

“I’m proud of the team and our people, especially events like these which will have a big impact in the next 10-20 years. We want to see this generation not only racing in Saudi but also Abu Dhabi, Bahrain and Qatar.”

He said the kingdom’s ambitions include creating “everything from marshals to medical teams, pilots, journalists — anything related to motorsports”

He said that the country's biggest source of investment in making Saudi dreams a reality came from its people rather than the country's wealth.

F1 is not just about sports and entertainment — it is creating jobs and opportunities for men and women. Hosting the event allows us to showcase Saudi Arabia to the world

"The mentality in Saudi Arabia is passionate, they are driven, enthusiastic and ambitious. Everyone wants to prove themselves and what they can give to their country. We are blessed," he added.

“The best resource is not oil, but it is the people of Saudi Arabia. It is the mentality of the people.”

Prince Khalid said that changes in the kingdom have created “new and equal opportunities for Saudis, not just men but also women".

“The next chapter involves a lot of investment in infrastructure — including technology, as it is a fast sport,” he said. “We have to ensure safety. We have the manpower, management and support from the government. We created Saudi Motorsports, which will focus on commercial, marketing and sponsorship activities.

“Everybody saw how Saudi Arabia shifted in the past 3-4 years due to the belief of King Salman, who supported the Crown Prince, who with his vision changed the country in all sectors.

“He has helped support motorsports, building state-of-art facilities with investments and focus on the future. Vision 2030 is fuelling and pushing us to achieve all our goals. F1 is not just about sports and entertainment — it is creating jobs and opportunities for men and women. Hosting the event allows us to showcase Saudi Arabia to the world, as people, and being part of the change, is an honour.”

What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

At a glance - Zayed Sustainability Prize 2020

Launched: 2008

Categories: Health, energy, water, food, global high schools

Prize: Dh2.2 million (Dh360,000 for global high schools category)

Winners’ announcement: Monday, January 13

 

Impact in numbers

335 million people positively impacted by projects

430,000 jobs created

10 million people given access to clean and affordable drinking water

50 million homes powered by renewable energy

6.5 billion litres of water saved

26 million school children given solar lighting

UAE%20Warriors%2045%20Results
%3Cp%3E%3Cstrong%3E%0DMain%20Event%0D%3A%20Lightweight%20Title%3C%2Fstrong%3E%0D%3Cbr%3EAmru%20Magomedov%20def%20Jakhongir%20Jumaev%20-%20Round%201%20(submission)%0D%3Cbr%3E%3Cstrong%3ECo-Main%20Event%0D%3A%20Bantamweight%3C%2Fstrong%3E%0D%3Cbr%3ERany%20Saadeh%20def%20Genil%20Franciso%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3ECatchweight%20150%20lbs%3C%2Fstrong%3E%0D%3Cbr%3EWalter%20Cogliandro%20def%20Ali%20Al%20Qaisi%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3EBantamweight%3C%2Fstrong%3E%0D%3Cbr%3ERenat%20Khavalov%20def%20Hikaru%20Yoshino%20-%20Round%202%20(TKO)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3EVictor%20Nunes%20def%20Nawras%20Abzakh%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3EYamato%20Fujita%20def%20Sanzhar%20Adilov%20-%20Round%201%20(submission)%0D%3Cbr%3E%3Cstrong%3ELightweight%3C%2Fstrong%3E%0D%3Cbr%3EAbdullo%20Khodzhaev%20def%20Petru%20Buzdugen%20-%20Round%201%20(TKO)%0D%3Cbr%3E%3Cstrong%3ECatchweight%20139%20lbs%3C%2Fstrong%3E%0D%3Cbr%3ERazhabali%20Shaydullaev%20def%20Magomed%20Al-Abdullah%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3EFlyweight%3C%2Fstrong%3E%0D%3Cbr%3ECong%20Wang%20def%20Amena%20Hadaya%20-%20Points%20(unanimous%20decision)%0D%3Cbr%3E%3Cstrong%3EMiddleweight%3C%2Fstrong%3E%0D%3Cbr%3EKhabib%20Nabiev%20def%20Adis%20Taalaybek%20Uulu%20-%20Round%202%20(submission)%0D%3Cbr%3E%3Cstrong%3ELight%20Heavyweight%3C%2Fstrong%3E%0D%3Cbr%3EBartosz%20Szewczyk%20def%20Artem%20Zemlyakov%20-%20Round%202%20(TKO)%3C%2Fp%3E%0A
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

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

UAE currency: the story behind the money in your pockets
THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: Now

Updated: November 29, 2021, 7:04 AM