Bahrain’s Ministry of Interior said on X that a drone attack on Sunday morning (8 March) damaged a water desalination plant in the country. The drone attack is one of many such attacks that GCC countries endured on the day, amidst the ongoing conflict between Israel, the United States, and Iran.

The desalination plant processes seawater into potable water for residents; Bahrain is estimated to generate the majority of its drinking water from desalination plants.

“The Iranian aggression randomly bombs civilian targets and causes material damage to a water desalination plant following an attack by a drone,” the ministry statement said.

In a separate announcement, the Bahraini ministry also said that three people were injured and a university building in northern Bahrain was damaged when fragments of an Iranian missile fell there.

On Saturday (7 March) Iranian Foreign Minister Abbas Araghchi said the United States had attacked an Iranian desalination plant on Qeshm Island, saying, “The U.S. committed a blatant and desperate crime by attacking a freshwater desalination plant on Qeshm Island. Water supply in 30 villages has been impacted. Attacking Iran’s infrastructure is a dangerous move with grave consequences. The U.S. set this precedent, not Iran.”

A spokesman for the U.S. Central Command, which is responsible for the Middle East, denied that the country had attacked a desalination plant in Iran.

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Mace Consult has announced the successful completion of the majority private equity investment by Goldman Sachs Alternatives and its carve-out from Mace Group.

With more than 5,500 specialist professionals operating across 6 continents, Mace Consult delivers certainty, working with clients from strategy through execution to deliver projects and programs on time, on budget, and on scope, said a statement.

The transaction, first announced in July 2025, has now closed and establishes Mace Consult as one of the largest independent project and program consulting businesses in the world, and creates a strong platform for its future. Led by CEO Davendra Dabasia, Mace Consult will retain the Mace brand and is well-positioned to scale its operations and growth around the globe, it added.

Davendra Dabasia, Mace Consult CEO said, “Today marks the beginning of an exciting new chapter for Mace Consult. Our partnership with Goldman Sachs Alternatives gives us the capital and strategic backing to scale our operations, particularly in North America, and to invest in digital tools that provide greater predictability, automation and control to set new standards for program and project delivery, unlocking value across the lifecycle. Our success is built on the talent and dedication of our people, who retain specialist knowledge, for whom this investment offers meaningful career growth as we expand globally.”

Mace Consult prioritises outcomes and has partnered with clients on some of the world’s most iconic infrastructure program including the London 2012 Olympic Games, and is currently playing leading roles on the New Hospital Program in the UK, Hudson Tunnel Project in New York, United States, Metrolinx’s GO Expansion program in Toronto, Canada, and major program in Saudi Arabia including Diriyah and Qiddiya, the statement explained.

Mace Consult was also appointed program management partner for MTR Corporation’s new rail network, and the Civil Engineering and Development Department’s (CEDD’s) Northern Metropolis program in Hong Kong, marking the most significant wins for the business in Asia to date. Mace Consult provides its holistic suite of services to Fortune 500 clients’ commercial, industrial, life science and technology portfolios, the firm said.

Following years of double-digit growth, Mace Consult generated close to US $1bn in revenue in 2025. The majority investment by GS Alternatives injects capital to accelerate growth in buoyant target markets, such as infrastructure, clean energy and climate resilience, sports and entertainment, advanced manufacturing and technology, and digital connectivity.

Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives added, “We are excited to partner with Mace Consult into the next phase of its growth journey. The company’s entrepreneurial culture, focus on client outcomes, and commitment to excellence set it apart in the industry. We’re looking forward to supporting Mace Consult as it continues to deliver enduring value for clients and communities worldwide.”

Major infrastructure programs often involve dozens of organisations, thousands of decisions, and billions of dollars moving in parallel. Mace Consult manages this integration challenge through four service offerings – Strategic Advisory, Cost and Commercial Management, Program Management Office (PMO) and Planning, and Program and Project Management. This holistic service offering establishes governance and delivery frameworks that enable timely and well-informed decisions, early and pre-emptive resolution of problems, prioritisation of safety and sustainability, and active coordination between interfaces to maintain program momentum.

Now independent from Mace Group and with ownership of the Mace brand, Mace Consult is focused purely on managing delivery for clients. Mace Consult represents the best interests of clients’ programs, challenging timelines, mitigating risks, holding stakeholders accountable, as a fully integrated delivery partner across the lifecycle, the statement concluded.

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Aluminium Bahrain (Alba) and AIP VII Europe Sarl, a wholly-owned subsidiary of AIP Fund VII, managed by American Industrial Partners, have announced that they have entered into an exclusive agreement. Alba will acquire 100% of Aluminium Dunkerque, the European Union’s largest primary aluminium smelter.

The proposed transaction is said to mark a significant milestone for Aluminium Dunkerque and secures a long-term industrial owner committed to its continued development in France and Europe.

Located in Loon-Plage in the Dunkerque region of France, Aluminium Dunkerque produces 300,000t of aluminium annually. Equipped with advanced automation, integrated production capabilities, and a strong foundation of skilled talent, Aluminium Dunkerque is well-positioned to capitalise on Europe’s growing demand for sustainably produced aluminium, said a statement.

Under AIP’s ownership, Aluminium Dunkerque has undergone transformations; the experienced management team and the skilled employees have improved operational reliability and energy efficiency, strengthened financial performance, secured long-term electricity supply agreements with EDF and others, invested in productivity and modernisation, and solidified its position as one of the lowest-carbon primary aluminium producers in Europe, the statement explained.

Alba CEO Ali Al Baqali said, “Our commitment is long-term. We will ensure operational continuity, support employees and expand low-carbon production capabilities to advance Aluminium Dunkerque’s next phase of development in full alignment with France’s industrial and energy priorities.”

Zac Carson, Partner at AIP added, “Following a rigorous and competitive process, we are confident that Alba one of the world’s leading and most technologically advanced primary aluminium producers – is the right long-term owner to build on the transformation achieved over the past five years and to further strengthen Aluminium Dunkerque’s strategic role within Europe’s industrial value chains. Alba maintains a singular focus on aluminium smelting, has excellent access to critical alumina, and has the strong balance sheet and cash flows required to sustain growth in the decades ahead.”

Guillaume de Goÿs, CEO & President of Aluminium Dunkerque continued, “Over the past 5 years, American Industrial Partners has been a supportive partner to Aluminium Dunkerque’s management as we re-established our company as a top industrial performer. Today, we look forward to welcoming Alba as our new long-term industrial owner. As one of the world’s leading primary aluminium producers, Alba brings deep technical expertise, operational excellence, and a clear commitment to low-carbon aluminium production that aligns perfectly with our ambitions. This new chapter will provide us with many new opportunities, along with the financial and technical resources to continue investing, innovating and reinforcing Aluminium Dunkerque’s role in France and Europe.”

“By combining Alba’s and Aluminium Dunkerque’s established strengths, we intend to create a new industrial powerhouse for cross-regional collaboration rooted in shared values and a commitment to innovation and responsibility. As global aluminium demand accelerates, this partnership will enable Alba and Aluminium Dunkerque to build an integrated platform that will capture compelling market opportunities while contributing to Europe’s industrial resilience and the global decarbonisation agenda,” he added.

On the deal, Khalid Al Rumaihi, Chairman of Alba stated, “Building on Alba’s position as a global supplier serving 5 continents, this transaction represents a bold and forward-looking step in our strategic roadmap to build a globally connected, low-carbon aluminium platform with operational strongholds in the GCC and Europe.”

The proposed merger between Alba and Aluminium Dunkerque aims to create a geographically diversified industrial group with a substantial operational presence across various regions. This will expand the customer base of both companies. Alba plans to pursue a long-term industrial strategy rooted in France, with a focus on local operations, operational stability, continued investment, and sustainable innovation.

Alba’s acquisition of Aluminium Dunkerque is a commitment to ensuring the continuity of its existing operations. This includes preserving employment and critical industrial capabilities, reinforcing low-carbon production, and supporting France’s and Europe’s energy transition and industrial sovereignty objectives. Alba further pledges to maintain Aluminium Dunkerque’s established standards of safety, reliability, and operational excellence, the statement concluded.

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Wasl Group said that it is expanding its portfolio of affordable housing in the UAE. Currently the group manages more than 45,000 residential units in different communities in the country, home to nearly 180,000 residents, with more than 90% being families, the firm said.

In May 2025, Wasl signed an MoU with the RTA and Dubai Municipality to double its affordable leasehold residential portfolio across Dubai, the firm added.

Together, these projects will span a total planned area of 1.46m sqm, with phased delivery across multiple stages to ensure infrastructure readiness.

This initiative supports the Dubai 2040 Urban Master Plan, which calls for a balanced housing ecosystem encompassing luxury, mid-income, and affordable segments, while upgrading urban areas into vibrant, inclusive communities.

The program also advances the Dubai Economic Agenda D33 by supporting workforce stability, economic productivity, and long-term market resilience through diversified housing supply and a stronger focus on end-user demand amid the city’s rapidly growing population, the firm added.

Whilst building these communities, an important aspect has been wellness and landscaping. This approach is seen in master-planned communities such as Wasl Village in Al Qusais, which have around 6,200 residential units ranging from studios to 1-, 2- and 3-bedroom apartments. Wasl Green Park offers approximately 2,527 1-, 2- and 3-bedroom homes set within landscaped surroundings.

Wasl also aims to double its residential leasing portfolio over the next 5 years, showing that it is a key partner in shaping Dubai’s urban future, the statement concluded.

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The Diriyah Company has secured a significant contract worth US $666mn for the implementation of the Pendry Superblock Package Northwest within Diriyah Gate II as part of the Diriyah Project.

This contract involves Pendry Hotels and Resorts, a unit of US-based Montage International, establishing its inaugural property in Saudi Arabia’s historical, cultural, and lifestyle destination.

The Diriyah Project, a $63bn initiative by Diriyah Company, aims to transform the birthplace of Saudi Arabia into a heritage destination. This transformation will blend historic Najdi architecture with modern luxury, making Diriyah a unique and captivating destination. Notably, Diriyah is also home to the At Turaif Unesco World Heritage Site.

The Pendry Superblock Package encompasses a comprehensive scope of work, including the construction of the Pendry Hotel Diriyah. Additionally, it involves the development of premium residential and commercial assets spanning over a vast 75,000sqm area. This project is one of the 32 new global hotel brands that have joined Diriyah Company’s hospitality portfolio.

Founded in 2014, Pendry is a chain of luxury boutique hotels based in California. The company also offers residential components at various properties, such as Pendry Residences West Hollywood. As of 2022, Pendry operates seven properties in diverse locations, including San Diego, Baltimore, West Hollywood, Chicago, New York City, Park City, and Washington DC.

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A luxury apartment in Dubai has been sold off-plan for approximately US $115mn – the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.

The sale of the 31,201sqft apartment at Aman Residences Dubai on the Jumeirah Peninsula, has been confirmed by fam Properties. Data from DXBinteract, the data platform developed by the company in partnership with Dubai Land Department, said the transaction put the value at $3,683 per sqft.

Firas Al Msaddi, CEO of fam Properties said, “The sale of an ultra-luxury villa at this level is particularly relevant in the current circumstances. It underlines the fact that the Dubai real estate market is structurally stronger than it has ever been.”

“Over 70% of transactions are now end-user driven, not speculative. The buyer base is globally diversified. Mortgage activity has doubled in 4 years. The regulatory environment has matured. The UBS Global Real Estate Bubble Index rates Dubai moderate risk, while cities like Miami and Tokyo sit in the high-risk zone. The fundamentals haven’t changed overnight because of regional events. And of course, the enormous lengths that the UAE authorities have gone to in order to keep everyone who lives and works here safe at all times, sends out the strongest possible message to investors,” said Msaddi.

“That has long been the case, and the effect of all this is highlighted by an apartment being sold for $115mn in the current climate, at a time when the eyes of the world are on Dubai, and the Gulf region. It’s a sale which says so much about the UAE as a whole, and in this case in particular, about Dubai as one of the world’s leading destinations for wealthy real estate investors. While headlines elsewhere paint one picture of the UAE, the reality for those of us living and working here is completely different,” concluded Msaddi.

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In a statement posted on the Dubai Financial Market website in response to ongoing regional events, ALEC Holdings (ALEC) reiterated its unwavering commitment to safeguarding its workforce and delivering on the best interests of its clients.

Following regional escalations, the company confirmed it had implemented a temporary work-from-home policy across its operations in the UAE. It also said its operations in the Kingdom of Saudi Arabia remained fully operational during this period.

“Our priority is, and always will be, the safety and security of our workforce. We are immensely grateful to our clients for their steadfast support during this period. That trust has been built over decades of delivering on our promises, and it is something we value deeply. We remain focused on transparency and close collaboration, working hand in hand with our clients and partners to safeguard everyone’s best interests and ensure safety across all our sites and offices,” stated Barry Lewis, Chief Executive Officer of ALEC Holdings.

ALEC said it resumed on-site and in-office operations across its UAE projects from Wednesday 4 March, in close coordination with clients to ensure a prompt and safe return to full-scale activity.

In addition, the company said it is committed to holding its first Annual General Assembly Meeting post listing as intended on Tuesday 24 March, 2026, in line with regulatory guidelines.

Lewis added, “Our significant investments in digital collaboration platforms, workforce management systems and enhanced security protocols have been tried and tested across our operations. These capabilities continue to play a pivotal role in keeping our projects on track while protecting our people. We remain confident in the resilience of our operations and in our ability to adapt responsibly to changing circumstances.”

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A fire broke out in Fujairah’s Oil Industry Zone (FOIZ) early on 3 March, which was caused by debris falling due to drone interceptions by the UAE’s air defenses.

The Media Office responded to concerns about loud sounds heard across various parts of the city, and stated that relevant authorities had responded to the blaze and brought it under control.

No injuries were reported during the incident, and normal operations in the affected area have since resumed, the Media Office said.

The authorities also urged the public to seek information from official state sources and to refrain from spreading rumors or unverified information. Meanwhile, relevant teams are continuing to monitor the situation and taking necessary measures to ensure the safety of everyone involved.

This is the first such incident reported in Fujairah. Ras Al Khaimah authorities also reported a drone debris falling incident in a residential area for the first time on 2 March.

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Amazon Web Services’ (AWS) data centre in the UAE reported an interruption in services from 1 March, after debris from an aerial interception struck the facility and started a fire.

The company said on their health dashboard at 5:19pm UAE time on 1 Marh that connectivity and power issues had affected APIs and instances in a single Availability Zone (mec1-az2) in the ME-CENTRAL-1 Region due to a power issue.

According to a report, in an update at 9:41pm UAE time, they then said, “At around 4:30am PST (4:30pm UAE time), one of our Availability Zones (mec1-az2) was impacted by objects that struck the data centre, creating sparks and fire. The fire department shut off power to the facility and generators as they worked to put out the fire.”

“We are still awaiting permission to turn the power back on, and once we have, we will ensure we restore power and connectivity safely. It will take several hours to restore connectivity to the impacted AZ. The other AZs in the region are functioning normally,” AWS explained.

In their next update, AWS said, “We are aware that some customers are experiencing errors when calling EC2 APIs, specifically networking related APIs (AllocateAddress, AssociateAddress, DescribeRouteTable, DescribeNetworkInterfaces). We are actively working on multiple paths to mitigate these issues.”

At 6:01am UAE time on 2 March, the company said, “For customers that can, we recommend using alternate Availability Zones or other AWS Regions where applicable.”

Their 2 March 9:59am UAE time update then stated, “We are investigating additional connectivity issues and error rates in the ME-CENTRAL-1 Region.”

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