Construction & Real Estate

Mitsubishi Power secures two gas turbine orders for KSA

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries (MHI), has received two major orders in cooperation with Doosan Enerbility to supply six state-of-the-art M501JAC gas turbines, generators, and auxiliary equipment for the Rumah-1 and Al-Nairyah-1 Independent Power Plant (IPP) projects in Saudi Arabia. 
 
The Rumah-1 and Al-Nairyah-1 power plants, located in the central and eastern regions of Saudi Arabia, will be developed by a consortium comprising the Saudi Electricity Company (SEC), Acwa Power, and Korea Electric Power Corporation (KEPCO). 
 
The power plants will deliver a combined 3.6 GW, accounting for nearly 2.5% of the national grid's capacity. 
 
These baseload plants will ensure grid stability while supporting the growing integration of renewable energy sources, which are becoming an increasing share of the Kingdom's energy mix. 
 
The power plants will generate reliable and uninterrupted power, to meet the rising demand for electricity and support the goals of Saudi Arabia Vision 2030.
 
The M501JAC turbines, renowned for their high efficiency, reliability, and operational flexibility, will be assembled in the Kingdom at Mitsubishi Power Saudi Arabia's Dammam factory. 
 
The 17,730-sq-m facility provides services for key gas turbine components and features a majority of Saudi employees, in line with Mitsubishi Power's Saudi National programme, which provides Saudi talent with rewarding careers pathways, and empowers them with advanced technical skills, through on the job training and knowledge exchange programmes.
 
Under the supervision of the Ministry of Energy, the Rumah-1 and Al-Nairyah-1 power plants will play an integral role in Saudi Arabia's energy mix plan, which aims to integrate renewable energy and natural gas to each account for 50% of the Kingdom's electricity generation by 2030.
 
These projects are also a key part of the Saudi Green Initiative, which seeks to achieve net-zero greenhouse gas emissions by 2060 or earlier, using a circular carbon economy approach.
 
Khalid Salem, President of Middle East & North Africa, Mitsubishi Power commented:"We are proud to partner with SEC, Acwa Power, KEPCO, and Doosan Enerbility on this landmark project, which underscores our commitment to advancing Saudi Arabia's energy infrastructure. As the Kingdom continues its ambitious journey towards increasing the share of renewable energy in its grid, the Rumah-1 and Al-Nairyah-1 plants will serve as cornerstones in ensuring grid stability and reliable power generation.
 
"Our advanced M501JAC gas turbines, renowned for their efficiency and flexibility, will deliver continuous, dependable power even under the most demanding conditions, adapting seamlessly to the evolving needs of the grid. This collaboration not only strengthens our dedication to delivering cutting-edge, hydrogen-ready solutions but also marks a significant step forward in supporting Saudi Arabia's Vision 2030 and its broader ambition for a sustainable, low-carbon energy future.
 
"We are excited to continue advancing our ability to deliver clean, reliable, and efficient power generation solutions that will help power the Kingdom's economic growth and enhance the quality of life for communities across Saudi Arabia," he added.-TradeArabia News Service

 

Construction & Real Estate

Dewa's new HQ building on track for Q4 completion

Dubai Electricity and Water Authority (Dewa) has announced that work is moving at a steady pace on its new headquarters building - Al Shera’a - located in Al Jaddaf.
 
Al Shera’a, which boasts a built-up area of over 2 million sq ft, is being set up at a total investment of AED1.5 billion ($408 million). 
 
Saeed Mohammed Al Tayer, MD & CEO dubbed the new Dewa HQ as a sustainable architectural masterpiece. "Once operational it will be the tallest, largest and smartest energy-positive government building in the world," stated Al Tayer.
 
"The construction, engineering and procurement works are scheduled for completion in the fourth quarter of 2025," he added.-TradeArabia News Service

Construction & Real Estate

Majid Al Futtaim to launch 30 new lifestyle stores in 2025

Majid Al Futtaim, a leading shopping malls, communities, retail, and leisure pioneer in the region, has announced an ambitious expansion of its luxury retail portfolio for 2025. 
 
Following a record-breaking 2024, which saw a 26% growth in its lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in the UAE and Saudi Arabia.
 
As part of its strategic growth agenda, Majid Al Futtaim will launch over 30 new stores, spanning both luxury and High Street brands across the region. 
 
The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia, said a statement from Majid Al Futtaim.
 
The five standalone Eleventy stores are set to open in key locations in 2025, including, Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al Arab, which all opened this month, with Dubai Mall and The Grove in the UAE to follow later in the year, it stated. 
 
Known for its commitment to sustainable practices, Eleventy reflects the growing consumer demand for quality and subtle sophistication, all under the ‘Made in Italy’ banner.
 
This growth builds on Eleventy’s successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi opened with Majid Al Futtaim in November 2024, it added.
 
"In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive," remarked Fahed Ghanim, the CEO of Majid Al Futtaim Lifestyle. 
 
"By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market - combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers," stated Ghanim. 
 
Majid Al Futtaim, he stated, was further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. 
 
Poltrona Frau, a key brand within Majid Al Futtaim’s portfolio,  achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates.
 
Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall, Saudi Arabia. 
 
Founded in 1930, Corneliani is one of Italy’s oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in over 70 countries. 
 
With the launch of its first standalone store in the Middle East, Majid Al Futtaim brings Corneliani’s timeless suits and sophisticated casualwear to even more customers across the region, said Ghanim.
 
Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy said: "Eleventy's philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer."
 
"We are excited to strengthen our partnership with Majid Al Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences," he added.
 
Nicola Coropulis, CEO of Poltrona Frau, said: "Since partnering with Majid Al Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region."
 
"The revitalisation of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey," noted Coropulis. 
 
"We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market," he added.-TradeArabia News Service