Construction & Real Estate

United Gulf wins key utility infrastructure contract in Kuwait

United Gulf Construction Company, a multi-disciplinary contracting firm, has secured a key utility infrastructure project contract in Kuwait. The scope of work includes the construction and maintenance of a new water distribution complex in the Hawalli area, along with other associated works. ...

Construction & Real Estate

Acwa Power buys entire 32pc Badeel stake in Shuaibah Water and Electricity Company

Global utility major Acwa Power has acquired the entire 32% stake of Saudi PIF company Badeel in Shuaibah Water and Electricity Company (developer of Shuaibah IWPP). With this move, Acwa Power has now become the majority stake holder in the Shuaibah company with 62% share. ...

Construction & Real Estate

Acwa's 2025 revenue soars to $1.97bn; net profit up 60pc

Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings. ...

Construction & Real Estate

Acwa Power snaps up Engie’s strategic GCC utility assets for $693m

Acwa Power, a global utility leader, said it has successfully completed the acquisition of French energy major Engie’s strategic gas-fired power generation and water desalination assets in Kuwait and Bahrain along with the related O&M companies for $693 million. ...

Construction & Real Estate

Acwa Power in deal to boost $5bn sustainable utility projects across Africa

Acwa Power has announced that it has signed a co-operation framework with African Development Bank (AfDB) to significantly strengthen collaboration in the development and funding of power generation and water desalination projects worth up to $5 billion across Africa. ...