Dubai – Mubasher: National Central Cooling Company (Tabreed) and Dubai Holding Investments entered a concession agreement to provide district cooling services for Palm Jebel Ali in Dubai, according to a press release.
The project, which will have a total cooling capacity of approximately 250,000 refrigeration tons (RTs), is valued at AED 1.50 billion and will be executed in multiple phases.
Subject to customary approvals, the network’s construction is anticipated to commence in the second quarter (Q2) of 2025, with the first cooling services expected to be delivered by 2027.
Under the agreement, the two entities will create a joint venture (JV), with Tabreed holding a 51% stake and Dubai Holding Investments 49%.
This JV is designed to improve cooling capacity, enhance information-sharing, and boost customer protection while ensuring sustainable cooling solutions for one of Dubai’s most transformative developments.
Omar Karim, CEO of Dubai Holding Investments, commented: “This agreement reinforces Dubai Holding’s long-term vision of developing sustainable communities with high-quality infrastructure at their core.”
The CEO of Tabreed, Khalid Al Marzooqi, added: “With our extensive experience and cutting-edge technology, we will deliver reliable and environmentally responsible cooling that benefits residents, visitors and stakeholders alike.”
In 2024, the net profits attributable to the owners of Tabreed increased to AED 570.21 million from AED 431.14 million in 2023.
