Dubai Police arrest four who went on Dh2m villa burglary spree

Dubai Police arrested a gang who are believed to have carried out burglaries on several villas after flying into the emirate on tourist visas.

The force said the four-man gang, whose identities were not revealed, are alleged to have carried out eight burglaries in different areas of the emirate when the owners or occupants of the villas were overseas on holiday.

The four managed to steal gold jewellery, expensive watches and cash valued at Dh2 million before leaving the UAE.

They later returned to the Emirates and stole Dh60,000 ($16,337) in cash, after which they were arrested.

The problem was the villa owners were out of the country and reported the incidents [only] after the gang had left

Col Adel Al Joker,
Dubai Police

Dubai Police said they managed to identify the four gang members, who were from a Latin American country, within 12 hours of receiving the reports from villa owners, who discovered their homes had been burgled after returning from their holidays.

Maj Gen Jamal Al Jallaf, director of the Criminal Investigation Department at Dubai Police, said the gang travelled to a country in the Middle East before heading to another country through land borders.

“We predicted the gang would return to the UAE because they didn’t travel to their home country,” Maj Gen Al Jallaf said on Thursday.

"After one month, the gang returned through Dubai International Airport but we didn’t arrest them immediately and kept them under intense monitoring.

"After a week of monitoring, the gang decided to go with a different style of crime, away from villa raids when they noticed most of the villas were secured.

“They moved from residential areas to commercial areas and started monitoring banks and exchange offices. They stole Dh60,000 from a bank customer and returned to their hotel.”

Just before the start of Ramadan, a special Dubai Police Swat team raided the place they were staying and arrested the gang.

The gang, who admitted carrying out the burglaries, told officers that they monitored the lights in the villas before sunset for a day or two. If the lights remained off, they returned at night and raided the villa, knowing that there was nobody inside.

After climbing over the villa walls, they used a sharp tool to prise open the doors.

Col Adel Al Joker, assistant general director of the General Department for Criminal Investigation Affairs, said the force managed to recover some of the stolen valuables.

“The problem was the villa owners were out of the country and reported the incidents [only] after the gang had left,” Col Al Joker said.

"Despite that, we managed to identify them because they were using a rented car to travel around the emirate.

“Smart cameras identified the gang when they entered the country through Dubai International Airport one month after they committed their crimes.”

He said the gang wanted to raid more villas but they hesitated when the properties in many areas had powerful lights, cameras and signs showing the residential area was monitored by surveillance cameras.

“They decided to target bank customers,” Col Al Joker said.

"A victim who went to his car with Dh60,000 was distracted by the gang who punctured the tyre and stole the money when he stepped out of the car to check the tyre."

Dubai Police urged residents to sign up for the force's free home security service, which allows villa residents to register with the force when they are out of the country.

The sophisticated system links security cameras and motion sensors placed in homes with the force's control room, allowing officers to take swift action when intruders strike.

Residents can sign up through the Dubai Police app or online to notify officers when they will be away for prolonged periods so their homes can be monitored.

Homeowners can also track surveillance footage on their phones.

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Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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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