Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, announced a rent freeze for tenants rebuilding or renovating properties at Al Quoz Creative Zone. Photo supplied
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, announced a rent freeze for tenants rebuilding or renovating properties at Al Quoz Creative Zone. Photo supplied
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, announced a rent freeze for tenants rebuilding or renovating properties at Al Quoz Creative Zone. Photo supplied
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, announced a rent freeze for tenants rebuilding or renovating properties at Al Quoz Creative Zone. Photo supplied

Sheikh Hamdan offers rent exemptions in Dubai creative district


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Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced that tenants who are rebuilding or renovating properties in Al Quoz Creative Zone will be exempt from paying rent for up to two years.

The move is part of ambitious efforts to transform the Dubai district into a world-leading hub for the creative sector.

It is in line with a 100-day action plan for the development project aimed at attracting top talent from across the globe to live and work in Dubai.

The plan was unveiled by the project's higher committee, led by Sheikha Latifa bint Mohammed, chairwoman of the Dubai Culture and Arts Authority.

Sheikh Hamdan established Al Quoz Creative Zone in April to serve as a state-of-the-art centre of activity for the world's best talents.

The sprawling zone aims to provide top-class facilities that cover everything from publishing, writing and print to cinema, music and video. It will also embrace artistic and cultural industries, cultural heritage museums, historical sites, archives, major cultural events, libraries, and the software and video game industry.

It will use multipurpose spaces and art workshops to help drive the creative industry in the emirate and beyond.

  • A portrait of Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, made by Indian artist Nisar Ibrahim using 6,800 screws. The piece is on display at the Antique Museum in Al Quoz, Dubai, and costs Dh35,000 ($9,530). Pawan Singh / The National
    A portrait of Sheikh Mohammed bin Rashid, UAE Vice President and Ruler of Dubai, made by Indian artist Nisar Ibrahim using 6,800 screws. The piece is on display at the Antique Museum in Al Quoz, Dubai, and costs Dh35,000 ($9,530). Pawan Singh / The National
  • Metal pots from India, Iran and Afghanistan. They are more than 150 years old and cost from Dh50 to Dh20,000 at the museum. Pawan Singh / The National
    Metal pots from India, Iran and Afghanistan. They are more than 150 years old and cost from Dh50 to Dh20,000 at the museum. Pawan Singh / The National
  • Moroccan lights worth between Dh50 and Dh3,000 on display at the museum. Pawan Singh / The National
    Moroccan lights worth between Dh50 and Dh3,000 on display at the museum. Pawan Singh / The National
  • A statue from Thailand worth Dh1,850. The museum imports and deals with a wide range of products from 27 countries. Pawan Singh / The National
    A statue from Thailand worth Dh1,850. The museum imports and deals with a wide range of products from 27 countries. Pawan Singh / The National
  • Silver bangles from Oman that cost at least Dh200. The museum offers a vast array of crafts made by women. Pawan Singh / The National
    Silver bangles from Oman that cost at least Dh200. The museum offers a vast array of crafts made by women. Pawan Singh / The National
  • Red Indian statues from Thailand, priced from Dh1,000 to Dh3,000. The museum is 26 years old and run by Fakih Group of Companies. Pawan Singh / The National
    Red Indian statues from Thailand, priced from Dh1,000 to Dh3,000. The museum is 26 years old and run by Fakih Group of Companies. Pawan Singh / The National
  • The museum spans about 7,000 square metres. Pawan Singh / The National
    The museum spans about 7,000 square metres. Pawan Singh / The National
  • A Buddha statue from Thailand that costs about Dh9,500. The museum also offers items such as traditional gifts, souvenirs and handicrafts. Pawan Singh / The National
    A Buddha statue from Thailand that costs about Dh9,500. The museum also offers items such as traditional gifts, souvenirs and handicrafts. Pawan Singh / The National
  • Items from 27 countries are on display at the museum. Pawan Singh / The National
    Items from 27 countries are on display at the museum. Pawan Singh / The National
  • Statues from China on display at the museum. They are priced from Dh3,000 each. Pawan Singh / The National
    Statues from China on display at the museum. They are priced from Dh3,000 each. Pawan Singh / The National
  • A vintage opaque projector from India is among the items there. Pawan Singh / The National
    A vintage opaque projector from India is among the items there. Pawan Singh / The National
  • The museum's handmade Moroccan lamps cost between Dh1,000 and Dh5,000 each. Pawan Singh / The National
    The museum's handmade Moroccan lamps cost between Dh1,000 and Dh5,000 each. Pawan Singh / The National
  • A teak wood horse from Thailand, priced at Dh44,500. Pawan Singh / The National
    A teak wood horse from Thailand, priced at Dh44,500. Pawan Singh / The National
  • Indian Guard statues from Rajasthan, India, are priced from Dh3,000 to Dh15,000. Pawan Singh / The National
    Indian Guard statues from Rajasthan, India, are priced from Dh3,000 to Dh15,000. Pawan Singh / The National
  • Statues from Thailand, which carry price tags that start at Dh1,650, are among the antiques on display. Pawan Singh / The National
    Statues from Thailand, which carry price tags that start at Dh1,650, are among the antiques on display. Pawan Singh / The National
  • The museum also has a collection of lamps from Turkey that cost between Dh50 and Dh6,000. Pawan Singh / The National
    The museum also has a collection of lamps from Turkey that cost between Dh50 and Dh6,000. Pawan Singh / The National
  • An elephant statue made from camel bone. The piece, from Rajasthan, is priced at Dh120,000. Pawan Singh / The National
    An elephant statue made from camel bone. The piece, from Rajasthan, is priced at Dh120,000. Pawan Singh / The National

Dubai's creative mission

The 100-day action plan will focus on the project's master plan to design a vibrant urban space, accommodating a wide variety of creative industries.

Key categories of activities related to the creative industries sector will be identified and permits to be given in the Al Quoz Creative Zone will be listed.

The zone's transport infrastructure will also take shape, including connecting Al Safa Metro Station to the creative zone.

The network will include a bus route with special designs, as well as cycle tracks, a pedestrian bridge and pedestrian sidewalks.

Dubai Culture is inviting members of the creative community to share ideas and suggestions for designs that can enhance the aesthetic and artistic ambience of the area.

Al Quoz is at the heart of Sheikh Mohammed bin Rashid's enterprising vision to bolster Dubai's creative sector.

In April, the Ruler of Dubai set out a plan to boost the value of the city's creative sector - generating more jobs and doubling the number of companies in the industry.

He said the government aims to increase the GDP contributions of the creative and arts sectors from 2.6 per cent to 5 per cent.

He said design, content, culture and arts will be a "major driver for the future of our country".

Sheikh Mohammed, who is also Vice President and Prime Minister, said about 8,300 companies trade in the emirate's creative sector today.

  • Situated in Al Quoz’s Courtyard, Art of Guitar fills a glaring absence in the region's vintage and high-end guitar offerings. Antonie Robertson / The National
    Situated in Al Quoz’s Courtyard, Art of Guitar fills a glaring absence in the region's vintage and high-end guitar offerings. Antonie Robertson / The National
  • Howling Rooster guitars built by in-house luthier Basil Azizoghly. Antonie Robertson / The National
    Howling Rooster guitars built by in-house luthier Basil Azizoghly. Antonie Robertson / The National
  • The space also sells old posters and original photographs. Antonie Robertson / The National
    The space also sells old posters and original photographs. Antonie Robertson / The National
  • The venue also offers guitar-building workshops led by in-house luthier Basil Azizoghly. Antonie Robertson / The National
    The venue also offers guitar-building workshops led by in-house luthier Basil Azizoghly. Antonie Robertson / The National
  • During the cooler months, Art of Dubai intends to become a venue for local artists to perform, setting up an ad-hoc stage in the Courtyard’s open space. Antonie Robertson / The National
    During the cooler months, Art of Dubai intends to become a venue for local artists to perform, setting up an ad-hoc stage in the Courtyard’s open space. Antonie Robertson / The National
  • A 1968 Jaguar in glossy candy red finish, on sale for Dh30,000. Antonie Robertson / The National
    A 1968 Jaguar in glossy candy red finish, on sale for Dh30,000. Antonie Robertson / The National
  • Art of Guitar owner Rick Vlemmiks. Antonie Robertson / The National
    Art of Guitar owner Rick Vlemmiks. Antonie Robertson / The National
  • Signed memorabilia is available for purchase here. Antonie Robertson / The National
    Signed memorabilia is available for purchase here. Antonie Robertson / The National
  • Art of Guitar takes over a space that used to be an art gallery. Antonie Robertson / The National
    Art of Guitar takes over a space that used to be an art gallery. Antonie Robertson / The National
Match statistics

Abu Dhabi Harlequins 36 Bahrain 32

 

Harlequins

Tries: Penalty 2, Stevenson, Teasdale, Semple

Cons: Stevenson 2

Pens: Stevenson

 

Bahrain

Tries: Wallace 2, Heath, Evans, Behan

Cons: Radley 2

Pen: Radley

 

Man of the match: Craig Nutt (Harlequins)

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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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Updated: December 04, 2021, 10:11 AM