The Abu Dhabi Executive Council approved a framework between the Abu Dhabi government and Aldar Properties to develop capital projects in the emirate.
Under the framework, Aldar will manage Dh30 billion worth of major projects including Riyadh City, Baniyas North and developments in the Al Ain and Al Dhafra regions, according to a statement by the Abu Dhabi Government Media Office (ADGMO) filed to the Abu Dhabi Securities Exchange on Wednesday.
"The projects will provide a significant positive impact on the wider Abu Dhabi economy," the ADGMO said. "Aldar’s ‘in-country value’ (ICV) programme gives priority to local contractors, consultants, and suppliers – including SMEs – for most contract awards."
The move comes after the Abu Dhabi Executive Committee recommended establishing a public-private partnership framework to develop capital projects in the emirate.
Subsequently, Abu Dhabi's holding company ADQ and Aldar Properties signed an agreement in October under which the emirate's biggest listed developer will take over the development and management of government capital projects valued at Dh30bn.
The projects Aldar is set to manage will deliver about 25,000 homes for UAE nationals and related infrastructure over the next five years.
Aldar will also provide management oversight of Dh10bn worth of Musanada’s projects in education, healthcare, infrastructure, social services and facilities management.
Musanada, which is responsible for developing much of the emirate’s public infrastructure, currently has a pipeline of projects including education, healthcare, infrastructure and social services buildings. It also has a facilities management arm to run them.
Aldar’s fee-based development management business is also overseeing Dh5bn worth of infrastructure projects awarded by the Abu Dhabi government in 2019. These projects include Al Falah national housing, Media Zone Abu Dhabi on Yas Island and Saadiyat infrastructure works.
Aldar reported a 30 per cent increase in third quarter revenue on the back of higher residential property sales and a growth in income from its third-party development management business.
Revenue for the three months to September 30 grew to Dh2.1bn. Net profit rose 8 per cent to Dh416m.
Governments in the Gulf region are increasingly turning to the private public partnership model, which can help finance major infrastructure and utilities projects. Many of them are developing legal frameworks to regulate PPP projects, which are expected to improve transparency and attract investment.
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The biog
Family: Parents and four sisters
Education: Bachelor’s degree in business management and marketing at American University of Sharjah
A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls
Likes reading: autobiographies and fiction
Favourite holiday destination: Italy
Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning
Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes
Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure
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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
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