The scene of a fire which broke out at the Al Sha'ab Village Fairgrounds, close to Sharjah Sports Club, in Sharjah on Sep 4 2008.
The scene of a fire which broke out at the Al Sha'ab Village Fairgrounds, close to Sharjah Sports Club, in Sharjah on Sep 4 2008.
The scene of a fire which broke out at the Al Sha'ab Village Fairgrounds, close to Sharjah Sports Club, in Sharjah on Sep 4 2008.
The scene of a fire which broke out at the Al Sha'ab Village Fairgrounds, close to Sharjah Sports Club, in Sharjah on Sep 4 2008.

Traders await decision on fire payouts


  • English
  • Arabic

SHARJAH // Traders whose businesses were destroyed in a huge fire at a Ramadan trade exhibition were still waiting yesterday to hear how much compensation they will receive. Many fear they will not be able to re-open after last Thursday's fire, which swept through the vast tent at Al Sha'ab stadium in Hazana and gutted all 220 stalls. Police say the cause of the blaze remains a mystery although an investigation is under way. It will take another week to compile the fire report, and insurance claims cannot be processed until the cause and scale of the fire has been investigated, they added. Abdullah Sultan, the director of the exhibition, said he had been told the fire report would be completed next week. "Until now we have not had any progress with the insurance or mode of compensation," he said. But he assured traders that all the shops, as well as the tent, were insured and that everyone qualifying for compensation would receive it. Thick black smoke billowed in the skies over the Hazana and Ghaefiya area as the flames spread and it took firemen five hours to bring the blaze under control. No one was killed or injured. Several blasts which police believe may have been caused by gas cylinders in restaurants and market stalls added to the dangers firemen faced as they fought the blaze. Traders watched in silent horror as their goods were reduced to ashes before their eyes. "We're looking up for what next. We don't know what is the cause and who is responsible. We also don't know if we could be compensated," said Zaheed, one of the traders. The Ramadan exhibition is one of the oldest and most popular in the emirate, attracting large numbers of families. It was due to run from Sep 1 to Oct 4, opening during the evening. The fire started when the market was closed. Ali al Amri, the director of Al Sha'ab stadium, said he was anxious to find out what caused the blaze, especially as the tent was fully equipped with fire fighting equipment. "It was a massive fire that we could not expect. All fire safety measures were in place," he said. "We also do not expect any foul play from anyone. A police report will really answer many of questions." Mr Amri said there were more than 60 fire extinguishers in the tent that could have helped put out the fire immediately but there were also many highly flammable materials that would have been a factor in the flames spreading quickly. Irene Zalamea, who worked in a women's clothes shop, said she had already begun looking for a new job. "My sponsor has already told the three of us that it's unlikely she will continue with the business but said she would not cancel our visas until we get new jobs," she said. Ms Zalamea's employer had been operating for two years and was said to be devastated at losing all her capital. "The exhibition was just in its first days and we had not made enough money, yet she had invested so much capital." Murshid, a Pakistani trader also selling women's clothes, estimated his losses at more than Dh100,000 (US$33,000). "I had so many new clothes and expensive ones but lost all of it without the receipts as evidence," he said. "I don't believe they will compensate all that is due to our losses. They would only say we're exaggerating." ykkakande@thenational.ae

THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

India cancels school-leaving examinations
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

Kill%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nikhil%20Nagesh%20Bhat%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3C%2Fstrong%3E%3A%20Lakshya%2C%20Tanya%20Maniktala%2C%20Ashish%20Vidyarthi%2C%20Harsh%20Chhaya%2C%20Raghav%20Juyal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204.5%2F5%3Cbr%3E%3C%2Fp%3E%0A
Dubai World Cup Carnival card

6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m

7.05pm: Handicap (TB) $135,000 (Turf) 1,000m

7.40pm: Handicap (TB) $175,000 (D) 1,900m

8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m

8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m

9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m

The National selections

6.30pm: Final Song

7.05pm: Pocket Dynamo

7.40pm: Dubai Icon

8.15pm: Dubai Legacy

8.50pm: Drafted

9.25pm: Lucius Tiberius