Category Archives: Business & Investments

Business & Investments

ME FITOUT to transform UAE’s interior contracting landscape with new high-tech manufacturing facility in Dubai

UAE, 29 May 2025: ME FITOUT, a fast-growing interior fit-out company in the UAE, has unveiled a new high-tech, sustainability-driven manufacturing facility in Dubai Investment Park (DIP) to boost the UAE’s booming interior fit-out market projected to reach USD 4.13 billion by 2030. The 100,000-square-foot facility is designed to deliver multiple complex large-scale interior contracting projects, elevating quality, efficiency, and sustainability standards in the sector.

Rapid urbanisation and a booming tourism sector have driven growing demand for smart, sustainable, and luxurious environments across the hospitality, corporate, retail, and high-end residential markets in the UAE. ME FITOUT is well-positioned to meet these evolving needs by delivering fully integrated, end-to-end fit-out solutions that support Dubai’s ambition to become a regional hub for design, manufacturing, and sustainable urban development, aligned with the city’s long-term vision for innovation-led economic growth.

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Business & Investments

Aljomaih Energy and Water leads the financial close of the Rabigh 2 Solar Project

The consortium successfully completed with a total value of SAR 825 million

The Rabigh 2 Solar Independent Power Plant (IPP) has successfully reached financial close on May 15, 2025, under Round 5 projects of Saudi Arabia’s National Renewable Energy Program (NREP), which is led and supervised by the Ministry of Energy.  The project is being developed by a consortium comprising Aljomaih Energy & Water Company as the lead developer and TotalEnergies Renewables SAS as the consortium partner, underscoring the strong collaboration between leading local and international energy companies.

Mr. Ibrahim Mohammed Al Abdulaziz Aljomaih, Chairman of the Board of Directors at Aljomaih Energy and Water Company

Located in Rabigh, Makkah Province, the Rabigh 2 Solar IPP is implemented under a Build, Own, Operate (BOO) model and will boast a generation capacity of 300 MW. The Saudi Power Procurement Company (SPPC) will purchase the electricity generated over 25 years. The project is financed with a total value of SAR 825 million, supported by a consortium of lenders including Al Rajhi Bank, ADCB, SMTB, and DBS Bank (Hong Kong). Once operational, Rabigh 2 will be capable of powering approximately 53,000 residential units.

Located in Rabigh, Makkah Province, the Rabigh 2 Solar IPP will boast a generation capacity of 300 MW

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Business & Investments

Al Fanar Gas Group and Siemens Energy Sign Strategic MoU

27 -May – WUC Exhibition – ADNEC

Al Fanar Gas Group and Siemens Energy Sign Strategic MoU to Collaborate on Clean Energy and Decarbonization

Abu Dhabi, 28 May 2025 – Al Fanar Gas Group, one of the UAE’s leading gas and energy solutions providers, and the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, a global energy technology leader, to jointly advance decarbonization and clean energy innovation across the UAE.

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Business & Investments

Winners Revealed at 6th GPCA Supply Chain Excellence Awards

The Awards took place in a star-studded award ceremony during the 16th GPCA Supply Chain Conference on 27 May 2025 at the Address Sky View Hotel, Dubai, UAE

Dubai, UAE, 28 May 2025 – The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, is pleased to announce the winners of the 6th GPCA Supply Chain Excellence Awards, which took place in a star-studded award ceremony during the 16th GPCA Supply Chain Conference on 27 May 2025 at the Address Sky View Hotel, Dubai, UAE.

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Business & Investments

ALEC Holdings’ 2024 ESG Report Reflects Operational Excellence and Resilience for Sustainable, Long-Term Growth

Dubai, UAE – 28 May 2025 – ALEC Holdings (ALEC), a leading construction and related services company, today published its latest Environmental, Social and Governance (ESG) and Sustainability report, underscoring the company’s commitment to responsible growth and sustained operational excellence across its UAE and KSA operations.  

The company’s sustainability achievements have been recognised externally. ALEC was awarded the Dubai Chamber of Commerce ESG Label and earned the ‘Committed’ sustainability badge from EcoVadis. The EcoVadis assessment covered 21 criteria across Environment, Labour & Human Rights, Ethics, and Sustainable Procurement, further validating ALEC’s robust ESG posture.

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