The National Central Cooling Company (Tabreed) announced the signing of an agreement with Emaar Properties, during which Tabreed will acquire an 80% stake in “Emaar” to cool the downtown area of Dubai for 2.48 billion dirhams, with Emaar retaining 20%. % Within the framework of a long-term partnership with "Tabreed".
According to a statement issued yesterday, this exclusive long-term franchise will supply up to 235 thousand tons of cooling to the most prominent projects and destinations in the Emirate of Dubai, through the largest integrated energy system with high efficiency in the world.
After the completion of this agreement, the production capacity of "Tabreed" in the Emirate of Dubai will reach 278 thousand and 801 tons of cooling, which will increase its total production capacity by 12.6% to one million and 338 thousand and 602 tons of cooling through 83 district cooling stations.
Following the agreement with Emaar, the Tabreed customer portfolio will include a number of prominent projects, including the Burj Khalifa, The Dubai Mall, The Dubai Opera, Dubai Metro, Abu Dhabi International Market, Etihad Towers, Yas Island, Aldar Building and the World Trade Center in Abu Dhabi, along with all From the “Cleveland Clinic Abu Dhabi” Hospital, Sheikh Zayed Grand Mosque, Bahrain Financial Harbor, Muscat Knowledge Oasis and Jabal Omar Project in Makkah Al-Mukarramah.
"This historic agreement is a major turning point in the (Tabreed) march, as it promotes the company's growth and consolidates its presence in the Emirate of Dubai," said Khaled Abdullah Al Qubaisi, Chairman of the Board of Directors of "Tabreed".
For his part, the Chairman of Emaar Properties, Mohamed Al Abbar, said, “This agreement represents great importance for both (Emaar) and (Tabreed), as Emaar has always been interested in establishing strategic partnerships, and is working strongly to develop and strengthen these partnerships. ».