Property, infrastructure, engineering and materials
China-based Fangda Group announced that its 51%-owned joint venture secured a major curtain wall contract for the Prince Mohammed bin Salman Stadium in Saudi Arabia. Valued at 1.147 billion Saudi riyals (approx. 2.05 billion yuan), the contract spans 863 days. The deal accounts for roughly 60.7% of the group's audited total revenue for 2025.
Dubai Law No. 4 of 2026 regulates the occupation and management of shared housing across Dubai, establishing mandatory operational permits and tenant contract registration. Prospective tenants must verify landlord licensing, ensure contracts are logged in the Shared Housing Register, and adhere to health and safety standards. Violations of the shared housing framework incur fines starting from Dh500,000 up to Dh1,000,000.
The UAE has revised value-added tax rules governing input tax deductions, narrowing the scope of recoverable employee-related expenses and cash purchases. The new framework took effect on October 1 following guidance published by the Federal Tax Authority on September 28. Tax experts note that labour-intensive companies face heightened compliance procedures and potentially hundreds of thousands of dirhams in added annual costs.
Authorities in the UAE have updated visa regulations across tourist permits, property owner residency, and specialist entries. Key changes include expanded visa-on-arrival eligibility, faster digital processing, adjusted property residency criteria, and mandatory traffic fine settlements prior to residency renewals. Dedicated visit visa options have also been highlighted for artificial intelligence and event professionals.
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