MENA Project Tracker — ADNOC receives bids on seawater plant; Saudi and Kuwait inject $256m in housing project in Egypt 

The project, estimated at $2 billion, is part of ADNOC's Project Wave (Shutterstock)
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Updated 04 October 2022
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MENA Project Tracker — ADNOC receives bids on seawater plant; Saudi and Kuwait inject $256m in housing project in Egypt 

RIYADH: Companies have submitted bids for the technical and economic consultancy contract for developing wind power projects in Oman, reported MEED.

Oman Power & Water Procurement Co. originally tendered the contract in July and received its bids on Sept. 27. 

The company announced that the contractor will be selected by early October.

The scope of work includes two stages — undertaking feasibility studies, followed by the provision of technical consultancy services.

This project aims to diversify fuel sources for power generation in Oman.

ADNOC receives bids on seawater plant

Abu Dhabi National Oil Co. has received three bids for the contract to develop a seawater treatment plant and transmission pipeline project in Mirfa, according to MEED.

The project’s work includes the development of a nanofiltration plant — which will hold a capacity of 115 million imperial gallons a day in Mirfa.

It also includes seawater intake and outfall facilities for the plant, a pumping station and a 75 km water transmission pipeline to the Bab and Bu Hasa oil fields.

The project, estimated at $2 billion, is part of ADNOC's Project Wave — a huge scheme that plans to replace the current aquifer water injection systems used to maintain reservoir pressure in all onshore oil fields in Abu Dhabi.

Saudi Arabia and Kuwait inject $256m in housing project in Egypt 

Saudi Arabia-based Binladin Group has partnered with Kuwait’s Bukhamseen company in a 5 billion Egyptian pound ($256 million) investment into a large housing project in Egypt.  

Located in Sheikh Zayed City near Cairo, ‘Marascene’ will stretch over 275,000 sq. m, according to Zawya.       

 “This is a large project which will be completed within seven years...we expect revenue to reach 9 billion pounds,” stated Bukhamseen’s CEO Imad Bukhamseen.


Venture capital investment will boost Saudi Arabia’s regional leadership in 2025 for the 3rd consecutive year

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Venture capital investment will boost Saudi Arabia’s regional leadership in 2025 for the 3rd consecutive year

RIYADH: The Saudi Venture Capital Co. has announced that venture capital in Saudi Arabia achieved two historic leaps in 2025, in terms of investment volume and number of deals.
 
The Kingdom also reinforced its leading position in the Middle East region for the third consecutive year in terms of venture capital volume, a clear impact of the Saudi Vision 2030.
 
SVC explained that the Kingdom achieved a record number of venture capital deals, with 254 deals, during 2025. It also recorded another historic figure in venture capital volume, reaching $1.66 billion during 2025, compared to no more than $60 million in 2018.
 
This contributed to a 25-fold increase in investment volume since SVC’s establishment and its emergence within the ecosystem, confirming its role as a market maker.
 
CEO and Board Member of SVC, Nabeel Koshak, said: “These figures represent a structural transformation in venture capital. What the Kingdom has witnessed today in the venture capital sector is a result of the unlimited support of the wise leadership for all sectors, which has been translated today into a well-thought-out economic transformation, in which private investment has moved to a more mature stage.”
 
He added: “These figures reflect the strength of the Saudi economy, the clarity of the vision, and the confidence of investors, and confirm that the venture capital system has become a fundamental pillar for economic growth and diversification.”
 
Koshak stated that the volume of investment has increased 25-fold since 2018, achieving record highs in both investment size and the number of deals. This reflects the maturity of the market in terms of the competitiveness of local and regional investment funds, the attractiveness of investing in the Kingdom for global investment funds, and the readiness of companies and the diversity of sectors.
 
The CEO pointed out that venture capital contributes to building companies capable of expansion, provides quality jobs, and transforms innovation into sustainable economic value, in line with the objectives of the Kingdom's Vision 2030.