Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum is heading to India, and his visit is expected to open new doors for business and trade between the two countries.

The trip highlights how the UAE and India are working closely together to grow their economies, create jobs, and invest in the future. It comes at a time when business ties between the two nations are stronger than ever, especially after they signed a major trade deal called the Comprehensive Economic Partnership Agreement (CEPA) in 2022.

Thanks to this deal, trade between the UAE and India reached over $54 billion in 2023. Dubai’s trade with India also grew by nearly $9 billion in just four years. This visit is expected to build on that success.

Sheikh Hamdan’s visit will focus on creating more business opportunities in both countries. He is expected to meet with Indian government officials and business leaders to discuss ways to boost trade, attract investment, and work together on future technologies like artificial intelligence and digital services.

The Crown Prince is known for pushing Dubai to become a top global hub for business, technology, and innovation. His visit to India is part of a larger plan to grow Dubai’s economy and bring in more international partnerships, especially through the Dubai Economic Agenda (D33), which aims to double the city’s economy over the next 10 years.

India, with its large population and growing tech industry, offers huge potential for UAE businesses. At the same time, the UAE is becoming a hotspot for Indian companies, entrepreneurs, and investors looking to grow globally.

In simple terms, Sheikh Hamdan’s trip is about building a stronger business friendship between the UAE and India.

(Source: Wam)

The UAE has introduced new rules to clarify when foreign companies or investors may be subject to corporate tax on their investments in the country.

Under Cabinet Decision No. 35 of 2025, the UAE Ministry of Finance has outlined specific conditions under which non-resident investors in Qualifying Investment Funds (QIFs) or Real Estate Investment Trusts (REITs) will be seen as having a taxable presence (nexus) in the UAE.

What Does This Mean for You?

If you’re a non-resident juridical person (i.e. a foreign company or legal entity) investing in a QIF or REIT in the UAE, you’ll only be considered taxable in the UAE if:

• The fund does not distribute at least 80% of its income within nine months after the end of its financial year. In this case, your tax obligation starts from the date you acquired the investment.
• The fund does distribute 80% or more, but your taxable status starts from the date the dividend is paid.
• The QIF fails to meet the diversity of ownership rules during the tax period.

Good News for Passive Investors

If your investment is in QIFs or REITs that comply with the rules and none of the exceptions apply, you won’t be considered to have a taxable presence in the UAE. This means no corporate tax liability under the UAE’s tax system.

Why This Matters

This decision gives much-needed clarity to international investors. It helps ensure that foreign investment in UAE-based funds remains attractive and tax-efficient while aligning with the country’s new corporate tax framework.

In short, if you’re investing in compliant UAE funds or REITs as a non-resident, you’re unlikely to face UAE corporate tax unless certain distribution or ownership conditions aren’t met.

(Source: Wam)

Sharjah’s iconic Safeer Mall is getting a fresh new identity — and a massive facelift. Now operating under the provisional name Mark & Save Mall (M&S Mall), the long-standing retail hub is set for a full-scale redevelopment following its recent acquisition by the Western International Group.

The transformation comes nearly two decades after the mall first opened its doors in 2005. The ownership shift took place in January, and redevelopment work is expected to wrap up in around 18 months.

The mall will undergo major upgrades, both inside and out, as part of an ambitious project to bring it in line with modern standards and ensure compliance with government regulations.

While it won’t be a complete teardown, the scale of the renovation is significant enough to require the temporary closure of the premises. Large portions of the interior and core infrastructure will be rebuilt to align with current requirements.

At present, nine shops are still open and serving customers, with business owners seeking clarity about the road ahead. The group said it recognises the ongoing operations and is committed to supporting tenants throughout the transition. However, given the scope of work, temporary relocations will be necessary.

Regarding eviction notices issued to shop tenants, the group confirmed that all required permits and renovation approvals are in place and that it has been working closely with relevant authorities from the start.

Backed by an investment of over Dh1 billion, the revamped mall promises to be one of Sharjah’s top family-friendly destinations. Plans include the city’s largest indoor play area, new dining spots, a fully equipped gym, and a sprawling hypermarket.

Strategically located on Etihad Road (E11), the major artery between Dubai and Sharjah, the mall sits in a high-traffic zone with over 100,000 vehicles passing daily.

Once a familiar landmark for residents and long-time expats, the shopping centre is now gearing up for its next chapter, promising a bigger, bolder, and better retail experience.