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ACWA Power Chosen as Preferred Bidder for Dubai Water Project

Saudi Arabia’s ACWA Power is the “Preferred Bidder” for the construction and operation of Dubai Water Project - WAM
Saudi Arabia’s ACWA Power is the “Preferred Bidder” for the construction and operation of Dubai Water Project - WAM
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ACWA Power Chosen as Preferred Bidder for Dubai Water Project

Saudi Arabia’s ACWA Power is the “Preferred Bidder” for the construction and operation of Dubai Water Project - WAM
Saudi Arabia’s ACWA Power is the “Preferred Bidder” for the construction and operation of Dubai Water Project - WAM

UAE’s Dubai Electricity and Water Authority (DEWA) has selected Saudi Arabia’s ACWA Power as preferred bidder for construction and operation of phase 1 of its Hassyan sea water desalination project.

The 3.36 billion dirham ($914.91 million) Independent Water Producer (IWP) project has projected capacity of 180 million imperial gallons per day.

This project is the largest of its kind in the world for water production based on Sea Water Reverse Osmosis (SWRO) technology using solar energy. It is DEWA’s first Independent Water Producer (IWP) model project. The water desalination capacity in Dubai is currently 490 MIGD. This capacity will increase to 670 MIGD in 2026 with the completion of this project.

DEWA received 29 expressions of interest from international developers to implement this project. The Request for Qualification (RFQ) was released to market on 18th October 2022, according to WAM.

Six international companies were qualified to submit their bids. DEWA received two bids from ACWA Power and Abu Dhabi National Energy Company PJSC (TAQA) on 22nd of May 2023 in response to the Request for Proposal (RFP) released to the market on 09 of December 2022.

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Saudi Arabia Plans to Establish Specialized Courts to Boost Investment Climate

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Plans to Establish Specialized Courts to Boost Investment Climate

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

Saudi Arabia is exploring the establishment of specialized courts to enhance its investment environment, aligning with the goals of the National Investment Strategy and Vision 2030. This initiative aims to support development and improvement efforts tailored to the needs and aspirations of investors.
The Kingdom has undergone an unprecedented transformation, implementing over 800 reforms to date. These include the Civil Transactions Law, the Bankruptcy Law, the Public-Private Partnership Program, and the Government Tenders and Procurement Law, which have collectively positioned Saudi Arabia as the 16th most competitive nation globally, according to the IMD World Competitiveness Index.
According to information available to Asharq Al-Awsat, the Ministry of Investment is currently consulting public and private entities to assess the necessity of specialized investment courts. This initiative focuses on improving investors’ interactions with the Kingdom’s judicial system amidst rapid legislative advancements, with the aim of bolstering Saudi Arabia’s status as a leading regional and global investment destination.
To ensure effective planning, the Ministry is working closely with key government agencies operating in strategic sectors. It has requested detailed input from relevant bodies, involving decision-makers to contribute to the project.
In August 2024, Saudi Arabia announced an updated investment law set to take effect in early 2025. This framework is designed to attract global investments, enhance the competitiveness of the local investment climate, support economic diversification, and create job opportunities, all in alignment with Vision 2030 and the National Investment Strategy.
The updated law is a cornerstone of the National Investment Strategy launched by Crown Prince Mohammed bin Salman. It aims to drive development, diversify the economy, and attract more than $100 billion annually in foreign direct investment by 2030.
The law enhances investor rights by ensuring fair treatment, protecting intellectual property, and allowing freedom in investment management and seamless capital transfers. It also provides transparency and clarity in processes, aligning with global best practices to foster a trustworthy investment environment. Simplified procedures now replace the previous licensing system, offering greater protection, flexibility, and confidence to investors conducting business in the Kingdom.
Saudi Minister of Investment Khalid Al-Falih emphasized that the updated law is part of broader reforms demonstrating the Kingdom’s commitment to creating a supportive and secure environment for both local and foreign investors. These efforts include adopting global best practices and revising the Foreign Investment Law, which was introduced 25 years ago, to develop a comprehensive investment framework that serves both Saudi and foreign investors.