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Palma Development has launched the second phase of its Dhs5 billion Serenia District project in Dubai's Jumeirah Islands. The new phase introduces two residential apartment buildings, East Residence 2 and East Residence 3, offering one- to four-bedroom units. Foundation works on the initial phase have finished, with structural construction now underway.
The UAE Federal Tax Authority has issued an updated Corporate Tax Guide on Tax Groups detailing auditing and consolidation standards. The revised guide addresses rules for unincorporated partnerships, tax depreciation on investment properties, statutory caps on losses, and foreign tax credits.
The Hong Kong Economic and Trade Office in Dubai observed its fifth anniversary, highlighting the UAE's role as a regional commercial hub and Hong Kong's position as a gateway to mainland Chinese investments. Separately, the Eurasian Development Bank and UAE wealth manager ACM Limited signed an agreement at Abu Dhabi Global Market to develop structured finance solutions connecting investors across the UAE, China, Oman, and Central Asia.
Ras Al Khaimah Economic Zone (RAKEZ) participated as a government partner at the 3rd Annual Ras Al Khaimah Investment and Business Summit. The authority highlighted industrial expansion at Al Ghail Industrial Zone and corporate setup solutions at RAK Central Square. Officials underscored streamlined licensing and regulatory support targeting foreign direct investment in manufacturing and logistics.
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