The Hyperloop capsule is capable of travelling at 1,230kph. Courtesy HTT
The Hyperloop capsule is capable of travelling at 1,230kph. Courtesy HTT
The Hyperloop capsule is capable of travelling at 1,230kph. Courtesy HTT
The Hyperloop capsule is capable of travelling at 1,230kph. Courtesy HTT

Transport

Construction on Abu Dhabi's hyperloop to begin next summer

Developer Hyperloop Transportation Technologies said work will be on the border of Abu Dhabi and Dubai

The National

October 24, 2018

  • English
  • Arabic

Construction work on the first hyperloop transport system will begin next summer in Abu Dhabi, the company behind the project said on Wednesday.

Hyperloop Transportation Technologies said it would build a commercial line on the border of Abu Dhabi and Dubai at developer Aldar’s Seih Al Sderieh landbank, close to the Expo 2020 site and Al Maktoum International Airport.

The company has yet to outline the exact route and the location of the terminals, but the line would be close to a major new housing development around the existing commuter town of Al Ghadeer.

“We are bringing the future of rapid transportation technology to all those living in the UAE,” said HyperloopTT chairman Bibop Gresta.

“Today’s announcement is a testament to the continued commitment and determination of all our partners, both within the UAE and abroad. As we move forward with the system we invite other interested organisations in the region and around the world to join us in making history.”

On Wednesday HTT appointed design and engineering firm Dar Al Handasah to assist in bringing the Abu Dhabi commercial system to reality.

Dar Al Handasah’s team includes Dar Group members and architects Perkins+Will, American engineering firm TY Lin International, Spanish engineers GPO Group and British cost management company Currie & Brown.

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Read more:

Abu Dhabi Hyperloop route announced following Aldar agreement

Hyperloop study a watershed moment for technology in the UAE

Company offers Nasa scientists and experts a piece of the business to deliver Hyperloop

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Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation Centre and Hyperloop Experience Centre is scheduled to begin in the third quarter of 2019.

Roy Cooper / The National
Roy Cooper / The National

“With today’s announcement of the appointment of Dar Al Handasah, Perkins+Wills, and Currie & Brown, we have achieved a significant milestone towards the construction of the world’s first commercial Hyperloop system in Alghadeer,” said HyperloopTT chief executive Dirk Ahlborn.

“We are looking forward to working with all of our regional stakeholders to build this historic piece of transportation infrastructure.”

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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Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

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