Sharjah Ruler to donate housing grant allocation to Northern Emirates

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, is to donate the emirate's share of federal housing loans to the Northern Emirates, to ensure Emirati families are well catered for.

Families in Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah will benefit as a consequence.

Sheikh Dr Sultan told Sharjah's government-owned radio station that the emirate's locally funded housing programme of grants and loans will continue.

“We have the Sharjah Housing Programme which began in 2012 and it's enough,” Sheikh Dr Sultan told the Sharjah radio programme Al Khat Al Mubasher — Arabic for The Direct Line.

UAE Minister of Energy and Infrastructure Suhail Al Mazrouei thanked the Ruler for his gesture and said it was an example of “integration and joint action” in government to ensure the best for citizens, Wam reported.

Last week, the minister unveiled an expansion of the Sheikh Zayed Housing Programme, which since 1999 has worked to ensure every Emirati family has access to quality housing.

It works using a system of grants and loans to allow families to buy a house that is adequate for their needs.

The federal funding largely goes to the four Northern Emirates. Abu Dhabi and Dubai have their own housing programmes.

Sheikh Dr Sultan is a regular listener of the programme, a popular platform for residents in the emirate to share concerns with government officials.

“In the past 10 years, the Sharjah housing programme has processed almost 9,608 applications, of which 5,058 were grants and 4,550 loans. Nearly Dh3.5billion ($952.8 million) was given out as loans and another Dh4bn for grants,” Sheikh Dr Sultan said.

Applicants eventually do have to pay back a loan.

Sheikh Dr Sultan said by the end of this year, the total amount given as loans and grants in the past decade will reach Dh8bn, benefiting 10,000 families.

Last week, Mr Al Mazrouei said 13,000 Emirati families living in the Northern Emirates would be able to receive interest-free home loans under a new government plan.

The plan will facilitate loan amounts of Dh10.4 billion in total for select families who submit requests to the Ministry of Energy and Infrastructure.

To be eligible, the main earning member of the household should have a monthly income of at least Dh15,000. Those eligible can apply for a loan of up to Dh800,000 but the monthly loan instalment should not exceed 16 per cent of the applicant’s salary.

Several local banks will disburse the loans, though it is not currently known which are on the list.

Borrowers pay the principal loan amount of Dh10.4 bn but the government will cover the interest rate of Dh1.1bn.

Approved designs for Emirati homes — in pictures

The Abu Dhabi Housing Authority has released 58 new housing designs for Emirati housing loan recipients to choose from. Illustration courtesy Abu Dhabi Housing Authority
The designs were released as part of the Bayti [my home] initiative, to simplify the process of buying and building homes for Emiratis. Illustration courtesy Abu Dhabi Housing Authority
Homes will be available in Abu Dhabi, Al Ain and the Western Region and can be built within two years. Illustration courtesy Abu Dhabi Housing Authority
Costs depend upon the design. For example, a 715-square-metre two-storey five-room house with terrace is priced at Dh1.9 million and a 1,024 sq m two-storey six-bedroom house is Dh3m. Options are also available for those who wish to build a house to their own design. Illustration courtesy Abu Dhabi Housing Authority

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Gifts exchanged

King Charles - replica of President Eisenhower Sword
Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
Donald Trump - hand-bound leather book with Declaration of Independence
Melania Trump - personalised Anya Hindmarch handbag

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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