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NATIONAL CENTRAL COOLING COMPANY PJSC

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National Central Cooling : Tabreed celebrates a Year of Collaboration with Emaar and recent Connection to Dunya Towers in Downtown Dubai

06/01/2021 | 03:08am EST

First anniversary of partnership reveals significant environmental benefits to one of the world's most iconic real estate developments

1 June, 2021 - Dubai, United Arab Emirates: The National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based international district cooling developer, is celebrating the first anniversary of its partnership with Emaar Properties PJSC (DFM: Emaar) for the exclusive provision of energy efficient district cooling services to landmark developments in Downtown Dubai. This is a collaboration that has been responsible not only for remarkable growth in Tabreed's portfolio, but also for genuine benefits to the environment, thanks to the efficiency and reliability of the company's technology and engineering.

Khalid Abdulla Al Marzooqi, Tabreed's Chief Executive Officer, said that the partnership, entered into in April 2020, has been a significant success. 'This is a partnership to own and operate the district cooling plants in Dubai Downtown area under a long-term concession. To date, the district cooling scheme connects 77 buildings with sustainable cooling energy, saving 190,000 tons of CO2 from entering the atmosphere each year, which is equivalent to removing the emissions from 41,000 cars.'

'Tabreed is a company built on progress, which is perfectly encapsulated in the relationship we have with Emaar. The connected RTs [Refrigeration Tons] of cooling currently stand at 153,000, and the benefits derived from our provisions speak for themselves and are essential for one of the world's most famous urban areas in its drive towards greater sustainability.'

Ahmad Thani Rashed Al Matrooshi, Chairman of the Downtown Dubai Cooling Company and Executive Board Member of Emaar Properties, said that the one-year anniversary of the partnership between Tabreed and Emaar is a significant milestone. 'This great nation leads the world in property development,' he commented, 'and it continues to set new benchmarks relating to community living. To be able to supply district cooling to many of the world's most iconic and visited landmarks means environmental benefits for all, and I look forward to many more years of progressive accomplishments between our organisations.'

Tabreed also announces the connection of its cooling services to Dunya Towers in Downtown Dubai, providing cooling to approximately 323,000 square feet of built-up area, which adds a further 492 refrigeration tons of cooling capacity to Tabreed's portfolio.

Commenting on the recent Dunya Towers connection, Dr. Yousif Al Hammadi, Managing Director of the Downtown Cooling Platform for Tabreed and Emaar, said: 'We are proud to deliver our services to Dunya Towers - this new connection adds to our customers' trust and confidence in our innovative and reliable cooling solutions that have become an integral part of the infrastructure for major developments across the region.'

Dunya Towers, developed by one of the UAE's leading real estate companies, Dunya Investment LLC, is a 22-storey modern residential project set within Downtown Dubai, and is flanked by iconic projects including the Burj Khalifa, The Dubai Mall, Dubai Opera and Dubai Fountains.

Dr. Yousif added: 'Tabreed is committed to providing energy-efficient, cost-effective and environmentally friendly district cooling solutions that contribute to reducing the carbon footprint of the region and to preserving the environment and natural resources for present and future generations.'

With over 20 years of operational excellence, Tabreed has been the partner of choice for organisations seeking environmentally friendly cooling solutions to support their sustainability goals and reduce their overall energy consumption and carbon footprint. With 86 district cooling plants, Tabreed currently delivers over 1.4 million refrigeration tons to key developments, including iconic projects such as the Burj Khalifa, Dubai Mall, Dubai Opera, Louvre Abu Dhabi, New York University, the RTA's Dubai Metro, Abu Dhabi Global Market, Etihad Towers, Yas Island, Aldar HQ, World Trade Centre Abu Dhabi, Cleveland Clinic Abu Dhabi, The Sheikh Zayed Grand Mosque, Bahrain Financial Harbour, Knowledge Oasis Muscat and the Jabal Omar Project in the holy city of Mecca in the Kingdom of Saudi Arabia.

Disclaimer

Tabreed - National Central Cooling Company PJSC published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 07:07:08 UTC.


ę Publicnow 2021
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Sales 2021 2 041 M 556 M 556 M
Net income 2021 552 M 150 M 150 M
Net Debt 2021 5 094 M 1 387 M 1 387 M
P/E ratio 2021 13,3x
Yield 2021 3,95%
Capitalization 7 018 M 1 911 M 1 911 M
EV / Sales 2021 5,94x
EV / Sales 2022 5,42x
Nbr of Employees -
Free-Float 21,8%
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Number of Analysts 4
Last Close Price 2,53 AED
Average target price 3,42 AED
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Managers and Directors
Khalid Al-Marzooqi Chief Executive Officer
Adel Salem Al-Wahedi Chief Financial Officer
Khaled Abdulla Juma Al-Qubaisi Chairman
Saeed Al Maeeni Vice President-Information Technology
Jean-Francois Chartrain Chief Operating Officer