Business · Companies · 3 days ago
Saudi families build fortunes through water and power company ACWA
Saudi company ACWA builds and operates water and power projects, including desalination plants that turn seawater into drinking water.
It began by building a plant to supply Mecca and has since expanded across the Middle East and beyond.
Two Saudi families, Abu Nayyan and Al-Muhaideb, together own at least 26.3% of ACWA, while Saudi Arabia’s Public Investment Fund holds 44.2%.
The families’ wealth has grown as ACWA expanded in areas that support the kingdom’s economic plans.
Desalination is especially important in the Gulf, where about half of the world’s existing desalination capacity is located and tens of millions of people depend on treated water.
Regional conflict has raised concerns about the safety of essential facilities, and Kuwait and Bahrain said desalination projects were hit earlier this year.
ACWA has said some of its facilities in the region were attacked, but did not give details, and said it has measures to manage the risks.
The company continues to expand in water, power and renewable energy, while long-term contracts help support its business during short economic slowdowns.
Saudi families have built more than $9 billion in wealth through their stakes in ACWA, a company focused on water desalination and power.
The Abunayan and Al Muhaidib families together own at least 26.3% of ACWA, directly and through their joint holding company, Vision Invest.
ACWA has a market value of $34.9 billion, while Saudi Arabia’s Public Investment Fund holds the largest stake, at 44.2%.
The company began by building a water and power plant to supply Mecca and has expanded into desalination, power and renewable energy projects.
Attacks on desalination facilities in the region have highlighted risks to water infrastructure as governments seek to protect supplies.
- Who
- The Saudi Abunayan and Al Muhaidib families, which together own at least 26.3% of ACWA.
- What
- The families have built more than $9 billion in wealth through the water company.
- When
- ACWA was founded in 2004. The article was published on October 9, 2026.
- Where
- Saudi Arabia and other markets in the Middle East and beyond.
- Why
- The company expanded in desalination and related infrastructure, businesses that align with Saudi strategic priorities and meet demand for water.
This story does not have two clearly opposing sides.
ACWA was founded by three families.
Mohammed Abunayan said at a business event that the Gulf War had sharply disrupted the irrigation sector and prompted him to diversify beyond it.
ACWA carried out one of Saudi Arabia’s largest rights issues, according to the article.
ACWA said in an investor report that some of its regional facilities had been attacked.
Kuwait and Bahrain announced that desalination projects in their countries had been hit.
- ACWA market value
- $34.9 billion
- Family ownership
- At least 26.3% held by the Abunayan and Al Muhaidib families together
- Public Investment Fund stake
- 44.2%
- ACWA founding year
- 2004
- Gulf desalination capacity
- About half of the world’s existing capacity is in the six Gulf Cooperation Council states
What people are saying
partial protection from short-term economic slowdowns
Since the conflict broke out, some of the group’s facilities in the region have been attacked
has a robust operational framework to deal with the risks associated with this
Sources
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