emirates7 - National Central Cooling Company (Tabreed) and Dubai Holding Investments, a subsidiary of Dubai Holding, have signed a concession agreement to deliver district cooling services for Palm Jebel Ali in Dubai.
Under the agreement, a joint venture will be established, with Tabreed holding a 51 percent stake and Dubai Holding Investments owning 49 percent. This partnership aims to optimize cooling capacity, improve information sharing, and enhance customer protection while providing sustainable cooling solutions for one of Dubai’s most ambitious developments.
Backed by Tabreed’s major stakeholders—sovereign investor Mubadala (42 percent) and French low-carbon energy and services firm ENGIE (40 percent)—the agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of senior representatives from Tabreed, Dubai Holding, Mubadala, and ENGIE.
Pending regulatory approvals, construction of the district cooling network is slated to begin in the second quarter of 2025, with initial cooling services expected to roll out by 2027.
Once fully operational, the system will provide approximately 250,000 refrigeration tons (RT) of cooling capacity and require an estimated investment of AED 1.5 billion.
Following the signing, Dr. Bakheet Al Katheeri, Chairman of Tabreed and CEO of Mubadala’s UAE Investments Platform, highlighted the significance of the agreement. “Mubadala is recognized globally as a responsible investor committed to its ESG principles, and Tabreed plays a crucial role in advancing sustainability and societal progress. This milestone in Tabreed’s 27-year journey reaffirms its dedication to delivering high-efficiency, sustainable cooling solutions for large-scale developments.”
Omar Karim echoed this sentiment, stating, “This partnership aligns with Dubai Holding’s vision of developing sustainable communities with high-quality infrastructure. Palm Jebel Ali is one of Dubai’s most ambitious projects, and by integrating district cooling services, we enhance customer experience while reinforcing our commitment to future-ready urban environments.”
Meanwhile, Al Marzooqi remarked, “Palm Jebel Ali is a game-changing development that will shape Dubai’s future, and we are proud to contribute by ensuring its infrastructure meets world-class standards.”
Under the agreement, a joint venture will be established, with Tabreed holding a 51 percent stake and Dubai Holding Investments owning 49 percent. This partnership aims to optimize cooling capacity, improve information sharing, and enhance customer protection while providing sustainable cooling solutions for one of Dubai’s most ambitious developments.
Backed by Tabreed’s major stakeholders—sovereign investor Mubadala (42 percent) and French low-carbon energy and services firm ENGIE (40 percent)—the agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of senior representatives from Tabreed, Dubai Holding, Mubadala, and ENGIE.
Pending regulatory approvals, construction of the district cooling network is slated to begin in the second quarter of 2025, with initial cooling services expected to roll out by 2027.
Once fully operational, the system will provide approximately 250,000 refrigeration tons (RT) of cooling capacity and require an estimated investment of AED 1.5 billion.
Following the signing, Dr. Bakheet Al Katheeri, Chairman of Tabreed and CEO of Mubadala’s UAE Investments Platform, highlighted the significance of the agreement. “Mubadala is recognized globally as a responsible investor committed to its ESG principles, and Tabreed plays a crucial role in advancing sustainability and societal progress. This milestone in Tabreed’s 27-year journey reaffirms its dedication to delivering high-efficiency, sustainable cooling solutions for large-scale developments.”
Omar Karim echoed this sentiment, stating, “This partnership aligns with Dubai Holding’s vision of developing sustainable communities with high-quality infrastructure. Palm Jebel Ali is one of Dubai’s most ambitious projects, and by integrating district cooling services, we enhance customer experience while reinforcing our commitment to future-ready urban environments.”
Meanwhile, Al Marzooqi remarked, “Palm Jebel Ali is a game-changing development that will shape Dubai’s future, and we are proud to contribute by ensuring its infrastructure meets world-class standards.”