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.
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.
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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