In a partnership agreement with “Marakez” and “Jas Cool”
Tabreed is the first international investor in district cooling to enter Egypt
The National Central Cooling Company “Tabreed” has entered into a partnership agreement with the Egyptian Company for Energy and Cooling Projects “Gas Cool” and Markaz Real Estate Development Company, to provide district cooling services to the new “D5M Mall” mall, located in the new city of Katameya, east of the capital, Cairo.
A statement stated that the deal is of special importance to Tabreed, as it is the first partnership of its kind in the Egyptian market, and given the great opportunities it represents for the development of its business in the future, pointing out that Tabreed is the first international investor in the field of district cooling in Egypt, which is considered It is a very promising market in this field.
According to the statement, the district cooling plant will be built in phases, with a production capacity of 7,500 refrigeration tons, as 6,000 contracted refrigeration tons will be operated under a long-term agreement.
strategic move
The CEO of Tabreed, Eng. Khaled Abdullah Al Marzouqi, considered the agreement a very important strategic step for the company.
He said: "Entering the Egyptian market has always been one of our most important long-term goals to achieve sustainable growth outside the GCC, due to Tabreed's extensive experience in the field of district cooling, which will bring various benefits to the Egyptian markets."
«Egypt Vision 2030»
For his part, the managing director of “Marakez” Company, Basil Ramzy, said that the partnership with Tabreed and Gas Cool comes as two leading companies in providing energy-saving, cost-effective and environmentally friendly cooling solutions, to enhance the consolidation of our efforts to support Egypt Vision 2030” towards achieving more environmental sustainability.
In the same context, Amr Badawy, President of Gas Cool, said: "We are pleased to conclude this agreement, which paves the way for a long-term relationship with one of the largest district cooling companies in the world to benefit from the expertise in this field."
He added: "The agreement is of great importance to both Gas Cool and Tabreed, as Egypt is witnessing an unprecedented urban and development renaissance by expanding the implementation of various types of urban development projects, and establishing new cities that will need to provide cooling services."
«D5M Mall»
It is noteworthy that construction work on the D5M Mall project, which is an essential part of the District Five project, which is being developed by Markaz, a subsidiary of the Saudi Fawaz Al Hokair Group, is nearing completion.
Work will start at the center this year, and it will be fully operational before the end of 2023.
Tabreed, the main partner in this alliance, owns 60% of the shares, while Gas Cool owns the remaining 40%.
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