logo
Saudi Arabia's SWPC expected to award Arana ISTP project in Q4 2025

Saudi Arabia's SWPC expected to award Arana ISTP project in Q4 2025

Zawya7 hours ago
Saudi Water Partnership Company (SWPC), the main off-taker for water and wastewater projects in the Kingdom. Is expected to award the Arana Independent Sewage Treatment Plant (ISTP) project in Makkah in the fourth quarter of 2025, a source aware of the details said.
The project involves the development of a sewage treatment plant under the public-private partnership (PPP) model with an initial capacity of 250,000 cubic metres per day (m3/day), expandable to 500,000 m3/day.
The Request for Proposals (RFP) was issued on 5 January 2025 with a bid submission deadline of 5 May 2025, which was postponed to 4 July 2025, the source told Zawya Projects.
'The contract award is likely to be announced in November 2025,' the source said, adding that the project is scheduled for completion in the fourth quarter of 2028.
The project will be implemented on BOOT (Build, Own, Operate, and Transfer) basis through a 25-year Sewage Treatment Agreement (STA).
(Reporting by Deva Palanisamy; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

DOF's Support Services Centre Records AED66 Million of Government Savings in 2024
DOF's Support Services Centre Records AED66 Million of Government Savings in 2024

Emirates 24/7

time38 minutes ago

  • Emirates 24/7

DOF's Support Services Centre Records AED66 Million of Government Savings in 2024

The Government of Dubai's Support Services Centre (SSC), part of Dubai Finance (DOF), announced achieving savings of AED66 million for the government during 2024, bringing the cumulative savings across government entities since 2008 to more than AED792 million. His Excellency Abdulrahman Saleh Al Saleh, DOF's Director-General, praised the SSC's continued achievement, emphasising the commitment to advancing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, through government strategies that embed innovation across public financial management. 'The SSC serves as an advanced model in delivering highly efficient financial and administrative services to small and medium-sized government entities. The SSC is a cornerstone in enhancing operational efficiency and good governance through advanced technologies, modern methodologies, and talent development. It is important to continue improving service quality to meet the Government of Dubai's aspirations for a more agile and sustainable future and strengthening the emirate's competitiveness regionally and globally,' H.E. Al Saleh added. Hamed Abdulghafoor Alawadhi, DOF's Executive Director of the Shared Services Sector, highlighted the strong relationship between the SSC and its client entities. 'The SSC continues to strengthen trust and enhance its services and processes, which contributes to expanding its strong reputation among Dubai government entities. Over the past 17 years, the SSC has achieved total financial savings of AED792.31 million. In 2024 alone, it delivered AED65.91 million in savings, marking a 5% increase compared to 2023, which reflects the efficiency of operations and the effectiveness of financial management,' he said. Mubarak Ahmad Al Shamsi, Director of the SSC, stated: 'The SSC manages a budget exceeding AED600 million on behalf of the entities it serves. In 2024, its revenues reached AED10.37 million from services provided to 29 government entities. The SSC continues to succeed in engendering a wise methodology of public fund expenditure by managing processes related to financial affairs, employee affairs, and procurement. This enables government entities to focus on their core functions and enhance their operational performance.' 'The working mechanism of the SSC is based on services shared with entities, creating an arrangement where the centre handles the executive side of the service, while the government entities maintain the operational freedom,' he added. The SSC offers a comprehensive employee and financial affairs services, including salary, accounting, and procurement solutions for emerging, small, and medium entities in the Government of Dubai, relies on a forward-looking strategy and an advanced work methodology. The SSC operates under a one-stop service framework, which relies on training employees to adopt a comprehensive staff methodology, enabling them to handle all streams of the Government Resource Planning system, such as procurement, payables, receivables, bank accounts, financial settlement, account closures, and fixed assets, aimed at delivering outstanding services to the entities served by the centre.

Shurooq's Sharjah Collection invests Dh300 million in 7 luxury eco-retreats
Shurooq's Sharjah Collection invests Dh300 million in 7 luxury eco-retreats

Khaleej Times

time2 hours ago

  • Khaleej Times

Shurooq's Sharjah Collection invests Dh300 million in 7 luxury eco-retreats

In response to the global shift towards wellness tourism and slow, meaningful travel, the Sharjah Investment and Development Authority (Shurooq) has invested over Dh300 million in recent years to develop the 'Sharjah Collection' — a portfolio of seven luxury eco-retreats designed to offer restorative experiences rooted in nature, heritage, and sustainability. Together, these destinations offer 154 high-end accommodation units across the emirate's most breathtaking landscapes, from coastal mangroves and desert dunes to mountain valleys and heritage villages. This investment directly taps into the booming global demand for wellness-focused travel. According to the Global Wellness Institute, wellness tourism is projected to exceed $1 trillion in 2025, while the 'slow travel' movement — growing at approximately 10 per cent annually — is redefining how travellers engage with destinations, placing value on time, tranquillity, and cultural depth. Condé Nast Traveller has also named slow travel one of the defining travel trends of 2025. Sharjah is rapidly emerging as a regional hub for conscious tourism. Data from the Sharjah Commerce and Tourism Development Authority (SCTDA) reported an 11 per cent year-on-year growth in guest numbers for 2024, with international occupancy continuing to rise in Q1 2025 — highlighting the emirate's increasing appeal among experience-led, wellness-oriented travellers. Curated journeys across history, ecology, and luxury Among the highlights is Al Faya Retreat, set in the heart of Mleiha's desert. This destination repurposes two 1960s buildings — once a clinic and grocery store adjacent to the UAE's first fuel station — into a boutique retreat of five rooms with panoramic desert views. Guests enjoy contemporary dining and curated desert trails. In Kalba, Kingfisher Retreat is located within a coastal mangrove reserve managed in close collaboration with the Environment and Protected Areas Authority (EPAA), offering 40 sea-facing luxury tents in a nature-first setting that promotes conservation through low-impact design and sustainable materials. Within Mleiha National Park (MNP), Moon Retreat is celebrated as a leading glamping destination, offering 10 geodesic domes and six premium tents. Activities include stargazing, yoga, horse riding, and guided desert explorations through MNP's dedicated team. Al Badayer Retreat, located amid Sharjah's iconic red dunes, blends traditional caravanserai-style aesthetics with modern luxury, offering 46 units that deliver dune adventures, camel rides, and desert tranquillity. Najd Al Meqsar, in Khorfakkan's Wadi Wishi, features seven luxury heritage units built within restored homes over 100 years old, overlooking ancient mountains and petroglyphs dating back more than 2,000 BCE. Developed in collaboration with 'Mubadara,' the retreat includes access to a 300-year-old fort and scenic hiking trails leading to Al Rafisah Dam. In the nearby historic core of Khorfakkan, Al Rayaheen Retreat comprises 19 restored heritage homes redesigned in collaboration with the Sharjah Institute for Heritage. Among them is the home of the Al Mushtaghil family, now transformed into a central guest facility with a traditional restaurant, palm-lined courtyards, and community spaces that blend historic preservation with modern comfort. Nomad: A new frontier for off-grid luxury Launching in Q4 2025, Nomad introduces a new eco-retreat concept to Sharjah's east coast. Situated in Kalba's mountainous valleys near the Kalba Nature Reserve, the retreat will feature 20 bespoke, solar-powered luxury trailers — designed and manufactured locally. In addition to promoting community enterprise, the off-grid design provides full immersion into nature while safeguarding local ecosystems. A no-wifi, lights-off approach enhances digital disconnection and night-sky visibility, encouraging mindfulness and environmental awareness. To preserve Kalba's biodiversity, Shurooq has implemented a suite of environmental protection measures, including impact mitigation protocols for rainfall, terrain, and wildlife movement — reinforcing its vision for sustainable development. A portfolio rooted in meaning and future resilience Ahmed Obaid Al Qaseer, CEO of Shurooq, said: 'Our hospitality projects are built on a vision that goes beyond traditional tourism, they serve as living bridges between the visitor and the place — preserving heritage while reintroducing local identity in a contemporary form. From the start, we have been intentional in designing each destination within the Sharjah Collection to reflect the unique environmental, geographical, and cultural character of its location, offering visitors an experience that is both authentic and immersive.' The Sharjah Collection, operated and developed by Shurooq, stands as a cornerstone of the Authority's Dh850 million+ hospitality portfolio and reflects the emirate's broader vision for sustainable development. The collection embodies the principles of slow travel and wellness, while showcasing Sharjah's natural beauty and timeless heritage. The impact of these projects extends beyond financial returns; they provide employment opportunities, strengthen the local community's connection to its surroundings, and contribute to environmental protection through sustainable architecture and low-carbon operational processes. As global preferences continue to favour immersive, responsible, and restorative experiences, Shurooq's visionary investment in these distinctive retreats firmly establishes Sharjah as a leader in the future of luxury tourism.

CBUAE: Gross banks' assets reach AED4,878.3 billion at end of May 2025
CBUAE: Gross banks' assets reach AED4,878.3 billion at end of May 2025

Emirates 24/7

time2 hours ago

  • Emirates 24/7

CBUAE: Gross banks' assets reach AED4,878.3 billion at end of May 2025

The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from AED1,011.9 billion at the end of April 2025 to AED1,015.6 billion at the end of May 2025. The increase was due to AED3.4 billion growth in monetary deposits, and AED0.3 billion increase in currency in circulation outside banks. In its Monetary & Banking Developments for May 2025, the CBUAE said that the money supply aggregate M2 increased by 1.6%, from AED2,435.6 billion at the end of April 2025 to AED2,474.0 billion at the end of May 2025. M2 increased due to an elevated M1, and AED34.7 billion increase in Quasi Monetary Deposits. The money supply aggregate M3 increased by 1.7%, from AED2,898.2 billion at the end of April 2025 to AED2,948.1 billion at the end of May 2025. M3 increased due to the growth in M2, and AED11.5 billion increase in government deposits. The monetary base increased by 2.2%, from AED 819.0 billion at the end of April 2025 to AED836.7 billion at the end of May 2025. The increase in the monetary base was driven by increases in: currency issued by 2.1%, reserve account by 29.2%, and in monetary bills & Islamic certificates of deposit by 6.6% overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 48.8%. Gross banks' assets, including bankers' acceptances, increased by 2.7% from AED 4,749.8 billion at the end of April 2025 to AED 4,878.3 billion at the end of May 2025. Gross credit increased by 1.5% from AED2,259.4 billion at the end of April 2025 to AED2,293.4 billion at the end of May 2025. Gross credit increased due to the combined growth in domestic credit by AED7.1 billion and foreign credit by AED26.9 billion. The growth in domestic credit was due to increases in credit to the; government sector by 2.0%, private sector by 0.8%, while credit to the public sector (government-related entities) decreased by 2.4%, and non-banking financial institutions decreased by 2.5%. Banks' deposits increased by 1.8%, from AED2,965.4 billion at the end of April 2025 to AED3,018.5 billion at the end of May 2025. The increase in bank deposits was driven by the growth in resident deposits by 1.9%, settling at AED2,741.3 billion and in non- resident deposits by 0.6%, reaching AED277.2 billion. Within the resident deposits; government sector deposits increased by 3.4%, private sector deposits increased by 1.9%, and government-related entities deposits increased by 1.3%, while non-banking financial institutions deposits decreased by 6.1% by the end of May 2025.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store