The project financing will be provided by Emirates NBDNational Central Cooling Company PJSC (‘Tabreed’), the leading UAE-based district cooling utility infrastructure company, today announced it has completed the signing of an AED 192.5 million long term limited recourse project finance facility with Emirates NBD for the district cooling plant it is developing for Dubai Parks and Resorts.Tabreed’s district cooling plant for Dubai Parks and Resorts is now nearing completion and will be commissioned in time for the park’s opening.Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “Tabreed’s approach to financing new projects is to utilise long term project financing wherever possible which we believe is the best way of financing our assets and maximizing value for all stakeholders. This loan facility with Emirates NBD is a landmark deal as it is amongst the first district cooling transactions completed in the UAE under a limited recourse project finance structure for a Greenfield development.”“We are committed to delivering district cooling services that enable Dubai Parks and Resorts to make significant savings to their energy consumption and positively contribute to the environment.”Jonathan Morris, General Manager Wholesale Banking at Emirates NBD, said: “This is our first collaboration with Tabreed and we are pleased to participate in the financing of the district cooling plant for the new Dubai Parks and Resorts. This is an important development which will further support the UAE’s economic diversification efforts and reinforce Dubai’s position as a tourist destination.”In 2014, Tabreed signed a long term concession to provide 45,600 tons of cooling to the new Dubai Parks and Resorts development in Jebel Ali.Raed Kajoor Al Nuaimi, Chief Executive Officer of Dubai Parks and Resorts, added: “At Dubai Parks and Resorts we are setting a new milestone in Dubai’s leisure and entertainment industry through our ground breaking theme parks.  As part of our mission to create a truly unique experience, we are working with the very best in class partners to ensure the delivery of our project is not only in line with international standards but also takes the environmental and economic impact into consideration. We are proud to be working with Tabreed and look forward to working with them.”In addition to Dubai Parks and Resorts, Tabreed provides its district cooling services to many of the region’s iconic developments including all the projects on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, and all the projects on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, as well as other national and regional landmarks such as Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Company completes buyback of Bonds which will increase earnings per shareNational Central Cooling Company PJSC (‘Tabreed’), the leading UAE-based district cooling utility infrastructure company, today released its 2015 first half consolidated financial results. Tabreed’s strong performance continues to benefit from lower finance costs and further growth across the UAE and GCC, with over 13,700 refrigerated tons (RT) of new connections made in the first half of the year.Financial highlights – six months ended 30 June 2015:Net profit attributable to the parent increased by 3 per cent to AED 153.4 million (H1 2014: AED 148.6 million)Core chilled water revenue increased by 5 per cent to AED 507.2 million (H1 2014: AED 483.1million)Group revenue increased by 6 per cent to AED 555.3 million (H1 2014: AED 526.3 million)EBITDA increased by 2 per cent to AED 264.4 million (H1 2014: AED 259.9 million)The buyback of 28% of Bonds from Mubadala was unanimously approved by voting shareholders at an Ordinary general Assembly in June. The buyback was completed on 1 JulyFor the 3rd consecutive year, a dividend of 5 fils per share was declared and paid to all shareholders in AprilNet finance costs decreased by 7 per cent to AED 60.8 million (H1 2014: AED 65.2 million) as a result of the refinancing completed at the end of 2014.Operational highlights – six months ended 30 June 2015:Renewed district cooling agreement with major customer in Q1 2015.  The renewed agreement has a duration of 30 years and sets the framework for additional connections to future projectsTotal Group connected capacity across the GCC reached 953,000 RT, with over 13,700 RT of new customer connections added in the first half of the year, including:5,000 RT in Oman4,800 RT in Saudi Arabia2,400 RT in the United Arab Emirates1,500 RT in QatarWaleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “Tabreed’s consistently strong results are a testament to the company’s stable utility infrastructure business model, which is anchored in a robust core chilled water segment. As the leading district cooling provider in the GCC, Tabreed has been steadily strengthening its footprint in its key markets across the region, with almost 14,000 RT of new connections across the GCC taking total connected capacity to almost 1 million RT.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “We remain committed to returning consistent and positive financial results, which is exemplified in our first half earnings, with net profits increasing by 3% over the same period last year, reaching AED 153.4 million. The first half of the year also saw our shareholders approve a 5 fils dividend and the buyback of 28% of the bonds held by Mubadala.  The buyback will increase earnings per share and reduce annual financing costs.”Tabreed has  69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Galleria, and all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Earnings per share increases 12% as a result of the successful completion of bonds buybackNational Central Cooling Company PJSC (‘Tabreed’), the leading UAE-based district cooling utility infrastructure company, today released its 2015 third quarter (Q3) consolidated financial results. In 2015, the company has connected over 15,000 refrigerated tons (RT) to customers in key markets across the GCC, while bringing to a successful conclusion the repurchase of 28% of the outstanding mandatory convertible bonds held by its bondholder.Financial highlights – nine months ended 30 September 2015:Net profit attributable to the parent increased by 4 per cent to AED 253.8 million (Q3 2014: AED 244.5 million)Core chilled water revenue increased by 4 per cent to AED 834.2 million (Q3 2014: AED 804.9 million)Share of results of associates and joint ventures increased by 12 per cent to AED 59.7 million (Q3 2014: AED 53.5 million)Group revenue increased by 2 per cent to AED 891 million (Q3 2014: AED 870.7 million)EBITDA increased by 1 per cent to AED 414 million (Q3 2014: AED 411.7 million)Operational highlights – nine months ended 30 September 2015:Total Group connected capacity across the GCC reached 954,000 RT, with 15,200 RT of new customer connections added in the first nine months of the year as follows:5,000 RT in Oman4,800 RT in Saudi Arabia3,000 RT in Qatar2,400 RT in the United Arab EmiratesWaleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “In the current economic climate, Tabreed distinguishes itself by having a robust utility infrastructure business which delivers consistent and sustainable results. As an organization, we will continue to benefit from the strength of our long-term customer relationships, as well as from a steady increase in the number of companies across the region that are actively looking to utilize energy-efficient and environmentally-friendly cooling solutions for their projects.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “Tabreed has a stable utility infrastructure business model that delivers consistent and recurring revenues year-on-year. Looking forward, we anticipate this pattern will continue as we look to grow our business in a sustainable manner that enhances shareholders value and delivers long-term returns to all of our stakeholders.”Tabreed has  69 district cooling plants across the GCC and provides  services to many of the region’s critical developments including all the projects on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, and all the projects on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other national and regional landmarks such as Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Buyback of bonds will increase earnings per shareShareholders of National Central Cooling Company PJSC (‘Tabreed’), the Abu Dhabi–based regional district cooling utility company, yesterday approved the proposal presented by the company’s Board of Directors at an Ordinary General Assembly (‘OGA’) to buy back 28 per cent of the mandatory convertible bonds held by Mubadala.The resolution for the buyback of the equivalent of 854 million bonds at a cost of AED 1 billion was unanimously approved at an OGA attended by shareholders representing 55% of Tabreed’s capital. The transaction will be finalized by early July, and the repurchased bonds will be cancelled.Jasim Husain Thabet, Chief Executive Officer of Tabreed, said: “Our company’s strong and consistent year-on-year performance since 2011 has enabled us to present this important proposal to our shareholders, and we are delighted that they have voted to approve it. This initiative is value-accretive for shareholders, and based on 2014 net income, will increase earnings per share by approximately 2.6 fils, while saving the company over AED 30 million annually.“This buyback is part of our wider strategy to continuously improve our capital structure. It follows our 2014 refinancing, which also delivered annual savings of AED 9 million. The combined yearly savings from these two transactions will reach approximately AED 40 million.”The highest standards of corporate governance best practice were implemented in pursuing this transaction. Tabreed engaged HSBC to provide a fairness opinion to its Board of Directors which stated that (as at the date of that opinion and subject to its terms) it is HSBC’s view that the proposed purchase price is fair from a financial point of view to Tabreed. Additionally, Mubadala, as the bondholder, did not vote at the OGA.The buyback will be financed through a new loan which Tabreed secured during its 2014 refinancing, and which has a lower cost of servicing than the bonds it is repurchasing.

National Central Cooling Company PJSC (‘Tabreed’), the leading Abu Dhabi-based district cooling utility company, today announced that it has recently commenced the supply of chilled water to the Al Hilal Bank tower on Abu Dhabi’s Al Maryah Island.Tabreed, which acquired the Al Maryah Island district cooling plant in 2014 in a consortium with Mubadala infrastructure Partners (MIP), an infrastructure focused fund investing in the Middle East, North Africa and Turkey, with institutional investors from the GCC region and Asia, will deliver more than 1,600 tons of cooling (RT) to the tower.Tabreed’s district cooling services will enable the Al Hilal Bank tower to reduce its expected energy consumption by approximately 2.9 million kWh per year compared to conventional cooling. This will lead to the elimination of 2,000 tons of CO2 emissions per year.Jasim Husain Thabet, Tabreed’s CEO, said: “In conjunction with our partners at MIP, we are proud to deliver our services to Al Maryah Island, which is one of Abu Dhabi’s key developments as it aims to become the new Central Business District and luxury lifestyle destination.”Thabet added: “For Al Maryah Island and other large scale, high density developments, district cooling represents the ideal solution as it consumes approximately half of the energy compared to conventional cooling. This in turn leads to significant environmental benefits and cost savings.”Mohamed Jamil Berro, Group CEO of Al Hilal Bank, said: “Al Hilal Bank prides itself as ‘the Orange bank that thinks green.’ One of our top priorities is to ensure high levels of sustainability and the least environmental impact across all of our facilities. Through Tabreed’s expertise we are fulfilling our commitment to a greener future for the communities we serve.”The tower extends over 25 levels above island podium level, providing approximately 35,570 square meters of net internal area.  The tower includes 9 levels of parking providing 1,046 spaces in total, offering a very competitive parking to office ratio.Today, Tabreed has  69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Galleria, in addition to all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, as well as other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Tabreed’s Invitation for its Ordinary General AssemblyThe Board of Directors of National Central Cooling Company PJSC (Tabreed) is pleased to invite its shareholders to attend the Ordinary General Assembly meeting to be held on Sunday 7 June 2015 at 5:30 pm in Beach Rotana Hotel in Abu Dhabi, to consider and resolve the following item:Repurchase by Tabreed from MDC Industry Holding Company LLC of an outstanding principal amount of AED 853,601,212 of the Mandatory Convertible Bonds Series B due 2019, issued by Tabreed in 2011, representing 28% of the total outstanding, at an aggregate purchase price of AED 1 billion.In the event a quorum for the first meeting is not achieved, the Ordinary General Assembly meeting will be adjourned until Sunday 14 June 2015 at the same time and place. Shareholders who are registered in the Tabreed’s share book on 11 June 2015 shall then be entitled to attend the second meeting.Where the necessary quorum is not achieved, all duly completed proxy forms for the first meeting shall continue to be valid and in full force for the second meeting unless revoked by the relevant shareholder by notice to the Securities Services Department at the National Bank of Abu Dhabi at least two days prior to the date of the second meeting.To view the full (PDF) invitation please follow this link:  https://www.tabreed.ae/download/466/

The proposed buyback of 28% of the mandatory convertible bonds held by Mubadala will save Tabreed over AED 30 million annuallyNational Central Cooling Company PJSC (‘Tabreed’), the Abu Dhabi–based regional district cooling utility company, today announced its intention to hold an Ordinary General Assembly (‘OGA’) to present to shareholders a proposal to buy back 28% of the mandatory convertible bonds (‘MCB’) currently held by Mubadala.In the proposal, Tabreed will seek shareholders’ approval to buy back 854 million MCB at a cost of AED 1 billion. The MCB were issued to Mubadala as part of Tabreed’s 2011 recapitalization program.The buyback will be financed through a new loan which Tabreed secured during its 2014 refinancing, and which has a lower cost of servicing than the MCB.Jasim Husain Thabet, Chief Executive Officer of Tabreed, said: “Since the 2011 recapitalization program, Tabreed has strengthened its operational and financial performance significantly which has yielded substantial improvements to our credit profile. As a result, we are now in a position to access attractive debt financing to replace bonds issued during the recapitalization. This replacement will result in a saving of over AED 30 million annually. Taken together with the debt refinancing completed at the end of 2014, combined savings will amount to over AED 40 million per year.“In pursuing this proposal, Tabreed has applied the highest standards of corporate governance and best practices to protect shareholders’ rights.”Tabreed has engaged HSBC to provide a fairness opinion to the Board of Directors of Tabreed which states that (as at the date of that opinion and subject to its terms) it is HSBC’s view that the proposed purchase price is fair from a financial point of view to Tabreed. Mubadala, as the bondholder, will abstain from voting at the OGA.Shareholders will have the opportunity to discuss the buyback proposal with the company’s senior executive team and board members at the OGA, and then vote on whether to accept it or not.The date and time of the OGA will be announced soon. For further details on this proposal, please visit the investor relations page on Tabreed’s website:

Strong regional operations and lower finance costs drive company’s performanceAbu Dhabi – United Arab Emirates: National Central Cooling Company PJSC (‘Tabreed’), the leading Abu Dhabi-based regional district cooling company, today released its 2015 first quarter consolidated financial results. The company’s performance was driven by its strong regional operations, with over 12,000 refrigerated tons (RT) of new connections made across the GCC, as well as additional savings achieved due to the refinancing completed at the end of 2014.Financial highlights – Three months ended 31 March 2015:Net profit attributable to the parent increased by 5 per cent to AED 61.2 million (Q1 2014: AED 58.2 million)Core chilled water revenue increased by 3 per cent to AED 214.4 million (Q1 2014: AED 208.2 million)Share of results of associates and joint ventures increased by 35 per cent to AED 17.3 million (Q1 2014: AED 12.8 million)Group revenue increased by 5 per cent to AED 239.4 million (Q1 2014: AED 227.2 million)EBITDA increased by 1 per cent to AED 119.7 million (Q1 2014: AED 118.6 million)Net finance costs decreased by 10 per cent to AED 29.4 million (Q1 2014: AED 32.7 million) as a result of the 2014 refinancing, and which led to a 50 basis points reduction in marginOperational highlights – Three months ended 31 March 2015:Renewed major district cooling agreement with Aldar. The renewed agreement has duration of 30 years, and sets the framework for additional connections to future projects.Total Group connected capacity across the GCC totaled 950,000 RT, with over 12,000 RT of new customer connections added, including:1,000 RT in the United Arab Emirates1,500 RT in Qatar4,700 RT in Saudi Arabia5,000 RT in OmanWaleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “Building on our excellent performance in 2014, Tabreed strengthened its position as one of the leading district cooling companies in the GCC in the first three months of 2015, adding over 10,000 RT across Saudi Arabia, Oman and Qatar.  The positive financial performance during the period reflects the strength of Tabreed’s underlying chilled water business and we remain well positioned to capitalize on future growth opportunities, at home and abroad.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “We have reached a number of significant milestones in the quarter, including the renewal of a major long-term district cooling agreement with Aldar Properties PJSC. Furthermore, we are already beginning to reap the benefit from the refinancing completed at the end of 2014, which demonstrated the robustness of our business model, greatly strengthening our financial position and providing a clear endorsement of our positive future outlook.”Tabreed has  69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic and Galleria, and all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Shareholders of National Central Cooling Company PJSC (“Tabreed”), the regional Abu Dhabi-based district cooling utility company, yesterday approved a cash dividend of five fils per share at the company’s Annual General Assembly (AGA).The AGA was chaired by Waleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, and attended by Tabreed’s Board of Directors, shareholders, and the company’s senior leadership team.Tabreed’s approved dividend distribution of five fils per share represents a payout ratio of 53% and a yield of 4.6%.Commenting on Tabreed’s performance in 2014, Al Muhairi said: “As a utility company, Tabreed distinguishes itself by providing sustainable and stable earnings year-on-year, a trend that we maintained in 2014 by returning a strong set of results that build upon the preceding years’ performance.“2014 is the third consecutive year that we have distributed cash dividends, which underscores the company’s commitment to enhancing shareholder value and its healthy financial position.”Addressing Tabreed’s shareholders, Jasim Husain Thabet, Chief Executive Officer, added: “Tabreed continued to benefit from its position as the only district cooling provider with regional operations as we made significant connections in Qatar and Saudi Arabia during the past year.”“We also have a strong presence in our local market of the UAE, where in addition to operating 62 plants and an extensive network that stretches across the whole nation, we continue to partner with leading entities such as Aldar, Meraas Leisure and Entertainment, Roads and Transport Authority, and the UAE Armed Forces.  We are therefore well positioned to capitalize on the expected growth opportunities that will arise in the UAE over the coming years.”Shareholders also approved the Board of Directors’ Report, the Independent Auditors’ Report and the Financial Statements for the year ended 31 December 2014.Robust economic growth and increasing demand for district cooling across the region enabled Tabreed to reach several critical milestones in 2014, including an AED 1.05 billion acquisition of the existing district cooling plant on Al Maryah Island in Abu Dhabi in a consortium with Mubadala Infrastructure Partners. The company also signed a long term concession agreement with Meraas Leisure and Entertainment to provide 45,600 tons of cooling to the new Dubai Parks and Resorts development in Jebel Ali, and has renewed its master services agreement with the UAE Armed Forces in a contract valued at AED 6 billion.Today, Tabreed has  69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic and Galleria, in addition to all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, as well as other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Abu Dhabi – United Arab Emirates: National Central Cooling Company PJSC (‘Tabreed’), the Abu Dhabi -based regional district cooling utility company, today announced the appointment of Steve Ridlington as Chief Financial Officer (CFO), effective February 22. Ridlington will succeed Adrian Kershaw, who will remain with the company until the end of March.Ridlington, who served as Tabreed’s CFO from 2009 – 2011, and led the restructuring of the company during that period, will make his return to the UAE’s largest district cooling company after spending the last four years in London, England, as CFO for Buried Hill, a private upstream oil and gas exploration company. He has over 34 years of international industry experience, 17 of which were spent in various leadership positions within BP, one of the world’s top oil and gas companies.Commenting on Ridlington’s appointment, Jasim Husain Thabet, Tabreed’s CEO said: “It is with great pleasure that we welcome Steve to Tabreed, who brings with him a wealth of industry experience spanning the globe. His track record demonstrates an ability to enhance shareholder value while strengthening the company’s financial position. I’m confident that Steve will make an immediate impact on our business, and will continue to drive our organization forward.”Kershaw will remain with Tabreed for one month and work alongside Ridlington to ensure a smooth leadership transition.Commenting on Kershaw’s departure, Thabet added: “During his five years at Tabreed, Adrian was a critical component of our growth story. He was instrumental in the recapitalization program, which set in place a stable capital structure and returned the company to sustainable profitability. Most recently, he successfully concluded the AED 2.6 billion refinancing of all our debt facilities, and has worked tirelessly to transform Tabreed into a leading utility infrastructure company.”“I would like to thank Adrian for his many contributions, and wish him all the best on his next venture.”Tabreed currently has 69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic and Galleria, and all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other landmarks such as the Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

118,000 tons of cooling added during the yearAbu Dhabi – United Arab Emirates: National Central Cooling Company PJSC (‘Tabreed’), the leading Abu Dhabi-based district cooling utility company, today released its 2014 audited full year financial results.  In addition to connecting over 118,000 tons of cooling (RT) to customers, the company’s strong performance was bolstered by major milestones reached in its home market of the UAE and also across the GCC region.Financial highlights – twelve months ended 31 December 2014:Net profit attributable to the parent increased by 20 per cent to AED 325.7 million (2013: AED 272.4 million)Core chilled water profit from operations increased by 3 per cent to AED 359.3 million (2013: AED 347.8 million)Group revenue increased by 3 per cent to AED 1,130.6 million (2013: AED 1,100.2 million)EBITDA increased by 5 per cent to AED 534.9 million (2013: AED 510.1 million)Successfully completed the refinancing of AED 2.6 billion debt facilities. The improved conditions, margins, and tenor in the new agreement reflect Tabreed’s established position as a leading utility infrastructure business.Operational highlights – twelve months ended 31 December 2014: 118,273 RT of new customer connections added across the group, including: 69,509 RT of new customer connections in the UAE31,014 RT of new customer connections in Saudi Arabia16,270 RT of new customer connections in Qatar1,480 RT of new customer connections in BahrainTotal group connected capacity across the GCC increased by 14 per cent to 957,000 RTRenewed master services agreement with the United Arab Emirates Armed Forces, valued at AED 6 billion (Q2 2014)Commenced the construction of a fourth district cooling plant in Qatar with a capacity of 40,000 RT (Q2 2014)In an AED 1.05 billion transaction, a consortium comprised of Tabreed and Mubadala Infrastructure Partners acquired a 30-year concession to be the exclusive provider of district cooling to the developments on Al Maryah Island in Abu Dhabi (Q3 2014)Signed a long term concession agreement with Meraas Leisure and Entertainment to provide 45,600 tons of cooling to the new Dubai Parks and Resorts development in Jebel Ali (Q3 2014)Waleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “2014 represented the strongest year in Tabreed’s history, with group net profit increasing by 20 per cent to approximately AED 326 million, the highest level since the company’s inception in 1998. Our core chilled water business continues to perform well and exceed growth forecasts, with total connected capacity across the group now approaching 1 million tons of cooling delivered to many of the region’s most critical landmarks and infrastructure projects.”Al Muhairi added: “We continue to see a rise in demand for district cooling across the GCC, especially in Saudi Arabia and Qatar, where we connected over 31,000 RT and 16,000 RT, respectively, and solidified our position as the only district cooling company that operates across the whole region.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “The major contracts we have signed with leading organizations across the UAE, from the agreement with Meraas Leisure and Entertainment to the renewal of our contract with the UAE Armed Forces and the acquisition of the district cooling plant on Al Maryah Island, not only strengthens our footprint across the whole of the UAE, but also underscores the importance of district cooling and the energy savings it enables.”He further commented: “In the year ahead, we will continue to focus on enhancing operational efficiencies and maximizing the yield on our existing assets by connecting additional customers to our networks across the region.”Tabreed currently has  69 district cooling plants across the GCC and provides its services to many of the region’s critical projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic and Galleria, and all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.

Abu Dhabi – United Arab Emirates: National Central Cooling Company PJSC (‘Tabreed’), the Abu Dhabi based regional district cooling utility infrastructure company, today announced the renewal of its district cooling agreement with Aldar Properties PJSC (‘Aldar’).The renewed agreement has a duration of 30 years, and sets the framework for additional connections to future projects. Tabreed currently has six plants with a total capacity of approximately 160,000 Tons that deliver cooling to some of Aldar’s landmark projects including Yas Island, the World Trade Centre in Abu Dhabi, among others.Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “Over the years, Tabreed’s strategy has focused on partnering with the region’s leading developers and organizations to enable the delivery of reliable cooling services to projects that support the region’s socio-economic development.  The strengthening of our partnership with one of the region’s most prominent real estate developers is an endorsement of our commitment to providing a utility service that is environmentally-friendly and helps enable a reduction in  energy consumption, thereby contributing to a decrease in our nation’s carbon footprint.”“We are excited by the future possibilities and collaboration opportunities this renewed district cooling agreement will present.”Tabreed has been providing its district cooling services to landmark projects developed by Aldar since 2005.  The company also delivers its services to many critical developments across the UAE and GCC, such as the Sheikh Zayed Grand Mosque, Dubai Metro, Cleveland Clinic Abu Dhabi, the Pearl – Qatar, and the Jabal Omar Development Project in the Holy City of Mecca.