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DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

DEWA electricity and water accounts rise by above 40 percent in 5 years

Aquifer Storage and Recovery will be fully completed by 2025.
  • The number of electricity accounts reached 1,061,476 by the end of 2021 compared to 752,505 at the end of 2016.
  • DEWA’s total capacity increased to 13,417MW of electricity, said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of 2021 compared to 752,505 at the end of 2016, an increase of 41 percent.

The number of water accounts reached 960,032 by the end of 2021 compared to 666,006 accounts at the end of 2016, an increase of 44 percent.

The total number of electricity and water accounts reached 2,021,508 by the end of 2021.

DEWA’s total capacity increased to 13,417MW of electricity and 490 million imperial gallons of water per day (MIGD), said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

It has investments of over AED86 billion ($23.4 billion) over five years in water and energy sectors, he noted.

“DEWA’s infrastructure uses technologies such as artificial intelligence, Unmanned Aerial Vehicles, Blockchain, Energy Storage, and the Internet of Things,” he added.

DEWA’s Jebel Ali Power and Desalination Complex is one of the critical utilities to provide Dubai with high-quality, efficient and reliable electricity and water services.

Guinness World Records has confirmed the complex as the largest single-site natural gas power generation facility in the world with a capacity of 9,547MW.

The complex comprises two primary plants for power generation and water desalination.

Plant -1 with a production capacity of 2,761 MW consists of stations D, E, and G. Plant-2 with a production capacity of 6,786 MW consists of stations K, L, and M.