Aldar welcomes the recent announcement from the UAE MoF regarding corporate tax exemptions for investment funds and REITs

Aldar welcomes the recent announcement from the UAE MoF regarding corporate tax exemptions for investment funds and REITs

Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar Properties, said:

“Aldar welcomes the recent announcement by the UAE Ministry of Finance on corporate income tax treatment for investment funds and real estate investment trusts (REITs), which will further promote the country as a premier investment destination.

The corporate income tax exemption for eligible REITs will have a significant and positive impact on the growth of the institutional real estate industry in the UAE.

The development of a REIT market will provide individuals and institutional investors, such as insurance companies and pension funds, with a valuable channel to invest domestically in income-generating assets. This will bring significant benefits to diverse investors and the economy, as the country continues to successfully implement its diversification strategy.

We commend the best practice approach to the introduction of corporate income tax implemented by the UAE Ministry of Finance, which has assured the continuation of a globally competitive business environment in the UAE.”

-Ends-

For further information, please contact:

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Media

Obaid Al Yammahi

Aldar Properties

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Radwa El Taweel

Brunswick Group

[email protected] [email protected]

About Aldar

Aldar Properties PJSC is the leading real estate developer, investor, and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

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