News
Policy updates, China–UAE developments, industry news and official Middle East travel alerts.
UAE developer Ohana Development has officially broken ground on the AED 15 billion ($4.08 billion) Manchester City Yas Residences along Yas Canal in Abu Dhabi. The 1.67 million-square-metre waterfront development will deliver more than 2,000 residential units and a sports training academy in phases by 2029. An on-site Experience Centre was also launched alongside the ground-breaking ceremony.
The United Arab Emirates has approved a major revision of its value-added tax executive regulations under Cabinet Decision No. 149 of 2026. The amendments affect input VAT recovery calculations, payment mechanisms, composite supply structures, and transaction documentation. Most of the revised provisions take effect on October 1, 2026.
A recent joint crackdown in Dubai seizing 17 tankers has brought renewed attention to UAE environmental penalties ranging from Dh500 to Dh10 million. Federal and local frameworks penalise improper industrial and hazardous waste disposal with fines up to Dh1 million, rising to Dh10 million for serious nuclear-related violations. In Dubai, specific municipal regulations impose penalties up to Dh500,000 for waste infractions and Dh100,000 for illegal wastewater discharge.
Dubai registered 131 sales of homes priced at US$10 million or above in Q2 2026, totaling US$2.17 billion, reflecting a 27 percent decline from the prior quarter. Knight Frank data reported by BriefAsia shows Hong Kong significantly narrowed the transaction gap with Dubai during the same period. The change comes as geopolitical tensions affect Middle East market sentiment and buyers diversify holdings into Asia.
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