Acwa Power closes purchase of Kuwaiti and Bahraini power assets-

Acwa Power finalized its USD 693 mn purchase of Engie’s stakes in Kuwait’s Al-Zour North One Power and Water Plant (Az-Zour North IWPP), according to a Boursa Kuwait filing (pdf). The transaction transfers Engie’s 17.5% share in the plant and its 50% stake in the associated operations and maintenance company to Acwa Power. The assets were acquired from Kahrabel, Engie’s MENA operations arm.

The four-plant play completed: This acquisition ties a bow on the USD 693 mn (SAR 2.6 bn) share purchase agreement Acwa Power signed in February 2025 to acquire a 4.6 GW power and desalination portfolio in Kuwait and Bahrain. Alongside Az-Zour North, Acwa now holds 45% stakes in Bahrain’s 940 MW Al Ezzel and 1.22 GW Al Dur plants, a 30% stake in the 930 MW Al Hidd plant, and full ownership of Al Ezzel O&M, closing those acquisitions last month.

Neom backs five new startup studios with funding and mentorship

Neom is tapping five new studios for its Level Up gaming accelerator, it said in a pressrelease. This marks the program’s largest cycle to date as the Kingdom races to build local talents alongside its massive intellectual property acquisitions.

Why this matters: This is the latest in the Kingdom’s buy-and-build strategy for gaming. While the PIF secures market dominance through acquisitions like Electronic Arts and Scopely, accelerators like Level Up address the human capital gap in the local gaming industry. By nurturing domestic talent in specialized technical niches now, Neom is preparing the workforce required to staff future local gaming development hubs.

The latest intake suggests a move away from generic mobile gaming toward specialized technical niches. The new cohort features studies focused on user-generated content tools (Makera) and health-tech gamification (Phys), alongside creators in animation and immersive multiplayer experiences (Aiqona, Fourcast, and Off Box).

Past success: Alumni from the program’s past cycle include Fahy Studio, which secured an international publishing agreement and USD 1.8 mn in investment, and awardwinning startups Starvania Studio and Majestic Mind Games.

Four Seasons joins Diriyah’s growing roster of luxury hotels-

Diriyah Company signs SAR 3.1 bn Four Seasons agreement: Diriyah Company signed a SAR 3.1 bn (USD 827 mn) joint development agreement with Midad Development and Real Estate Investment Company for a new Four Seasons Hotel and Private Residences Diriyah, it said in a press release. The agreement covers land acquisition and construction for a 159-room luxury hotel and residences across a 235.9k sqm site, pushing Diriyah’s total contracts awarded to over USD 27 bn.

IN CONTEXT- The Four Seasons joins a roster of seven other high-end properties — including Raffles, Armani, and Orient Express — where Diriyah broke ground in November 2024. Those seven projects alone account for 877 keys, bringing Diriyah’s total under development to 1k by our tally, edging the gigaproject closer toward its 2030 target of 40 hotels with 6.5k rooms.

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