Seventy-two per cent of work has been completed on a major water reservoir taking shape in Dubai’s Lusaily area.
The project worth AED 175.4 million has a storage capacity of 60 million imperial gallons (MIG).
It is expected to be completed by the end of the first half of 2021.
The initiative is part of DEWA’s efforts to boost Dubai’s water storage capacity to 1,002 million gallons by 2021 compared to the current capacity of 815 MIG.
It will also help increase the efficiency and reliability of the emirate’s water networks.
"We are currently building a reinforced concrete 60-million-gallon reservoir in Lusaily alongside the existing one, which stores 120 million gallons of desalinated water,” said Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA).
"This meets the growing demand, supports the sustainable development of Dubai, and increases the efficiency and reliability of water networks," he added.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
The UAE has launched an urgent humanitarian mission to assist communities affected by Hurricane Melissa, which devastated parts of Jamaica, Haiti and Cuba.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, looked at ways to advance cooperation with South Korea in key sectors during talks with President Lee Jae-myung in Gyeongju.