The construction of Yas Creative Hub, Abu Dhabi’s newest hub for the media, gaming and entertainment industry, is 95 per cent complete.
The first units are set to be handed over to tenants by the end of the year, as the emirate continues to focus on developing the creative sector.
Covering more than 270,000 square metres, the sprawling media hub will be home to more than 600 companies including the emirate's state broadcaster and CNN and Ericsson, the Abu Dhabi Government Media Office said in a statement on Thursday.
"With the number of jobs in Abu Dhabi’s creative industry expected to triple to 16,000 by 2031, Yas Creative Hub has been purpose-built to meet the future needs of this flourishing sector and is one of the assets being developed under Abu Dhabi’s Dh30 billion ($8.16bn) investment strategy for the Culture and Creative Industries," the media office said.
Other organisations that have confirmed their move to Yas Creative Hub include mobile gaming developer Boss Bunny, music publishing company PopArabia and dmg events.
“Media, entertainment and gaming are growing at an exponential rate globally and in Abu Dhabi, and Yas Creative Hub has been designed with the future of these sectors foremost in mind,” said Michael Garin, chief executive of twofour54 Abu Dhabi.
“It offers industry-leading production facilities, next-generation connectivity, digital technologies and flexible workspaces for firms of all sizes, from start-ups to international powerhouses.”
Yas Creative Hub, which is being built by Aldar Properties, is part of Miral Asset Management’s $1.1bn Yas Bay master development.
The Abu Dhabi government has pledged Dh8.5bn in the past five years to the cultural and creative sector. It has earmarked an additional Dh22bn to develop new museums as well as invest in the performing arts, music, media and gaming sectors in the next five years, the emirate’s Department of Culture and Tourism said earlier this year.
Twofour54 also launched an initiative this year to develop the gaming and e-sports industry in the UAE capital.
Called Abu Dhabi Gaming, it will support game developers, players, consumers and businesses, and will be backed by companies such as Unity Technologies, Flash Entertainment, UAE Pro League, Emirates Esports Association and the Media Zone Authority.
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KILLING OF QASSEM SULEIMANI
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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
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
