UAE In-Focus — DEWA completes 93% of 4th phase of H-Station in Al Aweer; Etihad to reintroduce 4 A380s

The project will add to DEWA’s current installed capacity of 14,317 MW of electricity. (Shutterstock)
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Updated 11 December 2022
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UAE In-Focus — DEWA completes 93% of 4th phase of H-Station in Al Aweer; Etihad to reintroduce 4 A380s

RIYADH: Dubai Electricity and Water Authority has completed 93 percent of the 829 megawatts fourth phase of the H-Station power plant in Al Aweer with investments totaling 1.1 billion dirhams ($30 million).  

This phase will increase Al Aweer Power Station Complex's total capacity to 2,825 MW under climate conditions of 50 degrees Celsius and 30 percent relative humidity. Key testing and commissioning operations have started in the fourth quarter of 2022. The project is expected to be operational in the first quarter of 2023. 

Saeed Mohammed Al-Tayer, managing director and CEO of DEWA, said that this project is one of DEWA’s key projects to meet the reserve margin criterion set for peak electricity demand in Dubai. It will add to DEWA’s current installed capacity of 14,317 MW of electricity. 

“We work in line with the vision and directives of Sheikh Mohammed bin Rashid Al-Maktoum, the UAE’s vice president, prime minister and ruler of Dubai, to provide a robust infrastructure that keeps pace with rapid developments in Dubai and the increasing demand for electricity and water in the emirate according to the highest standards of quality, efficiency, reliability and availability,” he said.
Nasser Lootah, executive vice president of generation (power and water) division at DEWA, said that the station is equipped with the latest systems and technologies to reduce emissions to the minimum.
He noted that the project’s work is progressing according to schedule, while maintaining the highest levels of health, safety, quality, and efficiency.

Etihad Airways to reintroduce 4 A380s  

Etihad Airways has announced that it is reintroducing four of its A380s in the summer of 2023, following a surge in demand for air travel across the airline’s network and customer feedback. 

Mohammed Ali Al-Shorafa, chairman of Etihad Aviation Group, said, “It is wonderful to announce the return of this splendid aircraft. The A380’s reintroduction further boosts Etihad’s capacity into the key UK market, with a knock-on effect for the wider Gulf Cooperation Council and the Indian subcontinent that will bring more visitors to the city of Abu Dhabi.” 

Etihad is currently preparing the aircraft to fly again, and part of this preparation includes the recruitment and training of A380 teams, including pilots, cabin crew and technical ground staff. 

Damac launches Cavalli Couture project  

Damac Properties has announced the launch of Cavalli Couture, a $90 million ultra-luxury branded residence on the banks of Dubai Water Canal. 

Located in Jumeirah 2, the development will be a low-rise 14-storey building overlooking Safa Park. It will have a built-up area of 14,966 square metres. The interiors will be branded by Cavalli and inspired by the Amazon Jungle. 

The scheme is set to be awarded in January 2024 and completed in December 2025. National Dewatering & Land Draining Co. has been appointed as the piling contractor. Gulf Engineering & Consultants is working as the consultant on the project. 


Saudi investment hits 32% of GDP, non-oil fixed capital reaches 40%, minister says

Updated 05 January 2026
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Saudi investment hits 32% of GDP, non-oil fixed capital reaches 40%, minister says

RIYADH: Saudi Arabia’s investment now accounts for 32 percent of gross domestic product, with non-oil fixed capital at 40 percent, according to the minister responsible for portfolio.

Speaking during his visit to the Shoura Council, Khalid Al-Falih said that foreign direct investment is expected to grow fivefold, signaling strong Vision 2030 progress.

“Regarding cumulative performance, the Kingdom has exceeded all expectations, achieving high levels of investment,” Al-Falih said, according to a video posted on Al-Ekhbariya’s X account focused on economic matters.

The minister added: “Today, investment accounts for 32 percent of the total GDP. In terms of non-oil GDP, fixed capital represents 40 percent, compared with 41 percent in China, the highest globally.”

If we take the non-oil GDP, he said, fixed capital will make 40 percent. “China is the largest globally with 41 percent. So, we will rank second if we compare it to the non-oil economy and fourth when measured against total GDP,” Al-Falih said.

He emphasized that the Kingdom offers an investment-attractive environment, noting that when focusing on foreign direct investment rather than overall investment, Saudi Arabia ranks among the world’s highest.

The minister of investment added that FDI is expected to grow fivefold by the end of 2025, though these data require confirmation, stressing that this is “a big indicator for the success of Saudi Vision 2030.”

During his address to the session, Al-Falih emphasized that Saudi Vision 2030 prioritizes economic diversification and reducing dependence on oil, through boosting the private sector’s contribution to inclusive economic development, supporting national sectoral priorities, and driving growth in the Kingdom’s GDP.

He highlighted key initiatives enabling the private sector, including the establishment of the Ministry of Investment and the Saudi Investment Promotion Authority, the launch of the “Shareek” program, the development of the National Investment Strategy, and linking all stakeholders in the investment ecosystem.

“The Cabinet’s adoption of the National Investment Strategy, launched by Crown Prince in 2021 and implemented in 2022 as a comprehensive national framework, has played a major role in positioning investment as a driver of economic growth,” he said.

Al-Falih revealed that the ministry has identified more than 2,000 investment opportunities worth over SR1 trillion ($267 billion), noting that 346 of these opportunities have been converted into closed deals valued at over SR231 billion through the “Invest Saudi” platform.

He also highlighted the success of the regional headquarters attraction program, with licenses issued to more than 700 global companies by the end of 2025, surpassing the 2030 target of 500 companies, across diverse sectors that reinforce Saudi Arabia’s role as a regional business hub.

The minister revealed that active investment licenses have grown tenfold, rising from 6,000 in 2019 to 62,000 by the end of 2025, highlighting the role of companies in creating over one million jobs, including numerous positions for Saudi nationals.

Al-Falih noted the Kingdom’s success in attracting 20 of the world’s top 30 banks, as part of efforts to strengthen the presence of leading asset managers and international banks in support of the Saudi banking sector.

He also discussed reforms to enhance the business environment, such as the Civil Transactions Law, Companies Law, and the updated Investment Law issued in mid-2024, which contributed to Saudi Arabia moving up 15 places in the global competitiveness ranking.

The minister also announced the update of the National Investment Strategy in 2025, focusing on quality, productivity, and directing investments toward sectors with the highest economic impact, while developing financing solutions for SMEs.