National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company and Abu Dhabi’s renewable energy company, Masdar, today announced that they have signed a service agreement to operate Masdar’s first district cooling plant with operations underway. Under the three-year contract, Tabreed will manage the district cooling plant on behalf of Masdar, providing expertise as well as operations and maintenance services, including regular maintenance of onsite equipment, water pumps and other related services through ongoing monitoring, diagnostic and planned maintenance work. The Masdar district cooling plant is state-of-the-art and showcases the smart energy system of the district. It is part of Masdar City’s first phase, slated to provide the first 6,000 RT of the 94,000 RTs planned for the area. Commenting on the selection of Tabreed, Mohamed Jameel Al Ramahi CEO of Masdar said: “Selecting the right partner to support for the operations and maintenance of our first district cooling plant was key.  The plant is a central part of the smart energy system we are building at Masdar. With their technical capability and successful track record, we trust Tabreed to provide us with the highest level of quality services and expertise to meet our operational efficiency targets.” Commenting on the contract win, Jasim Thabet, Tabreed’s CEO said: “We are delighted to be working with Masdar to support their district cooling and sustainability needs. This agreement is testament to Tabreed’s operations and maintenance capabilities garnered across 72 plants in the region over the last 20 years, with industry leading approaches bringing innovative operations and management solutions to the sector. It also demonstrates the confidence of game-changing energy players such as Masdar in selecting us for long-term partnership arrangements.” Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia. Masdar is Abu Dhabi’s renewable energy company which works to advance the development, commercialization and deployment of clean energy technologies and solutions. The company serves as a link between today’s fossil fuel economy and the energy economy of the future. Wholly owned by the Mubadala Investment Company PJSC, the strategic investment company of the Government of Abu Dhabi, Masdar is dedicated to the Emirates’ long-term vision for the future of energy and water.

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company won the local currency loan deal of the year at the Bond, Loans and Sukuk Awards Middle East on held on December 7, 2017 at the Ritz Carlton JBR, Dubai. Tabreed secured a club loan through a AED1.5bn 10 year Shari’a -compliant facility, enabling the company to diversify its funding base, extend its debt maturity profile and lower its financing costs. The new Shari’a-compliant facility, while allowing to secure better terms on previous loan, also served the dual purpose of opening the company up to Shari’a-compliant equity investors. The innovative Islamic structure, based on the sale and purchase of refrigeration capacity, with Tabreed selling that capacity to generate revenue to service the financing and pay the principal amount, is a first for the sector. Commenting on the award win, Jasim Thabet, Tabreed’s CEO said: “This award confirms that our Shari’a complaint loan is a best in class facility that not only ensures Tabreed stock is available to Islamic investors, but also adds value to existing shareholders. The Local Currency Loan Deal of the Year Award recognizes the hard work and dedication of the Tabreed team, participating banks, lawyers and advisors.” Thabet added, “We are honored to be recognized in the category for our achievements by a jury of the most influential international investors from leading banking and finance institutions.” Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

November 8, 2017 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based district cooling utility infrastructure company, today released its 2017 third quarter consolidated financial results. The company continues to deliver solid performance and growth with ongoing new capacity and connections added across the region, in response to the growing demand for district cooling. Financial highlights – nine months ended 30 September 2017:Net profit increased by 8% to AED 290.4 million (Q3 2016: AED 269.3 million)Group revenue increased by 9% to AED 1049.1 million (Q3 2016: AED 960.3 million)Core chilled water revenue increased by 14% to AED 993.5 million (Q3 2016: AED 870.6 million)EBITDA increased by 7% to AED 464.6 million (Q3 2016: AED 434.8 million)Share of results of associates and joint ventures increased by 14% to AED 91.0 million (Q3 2016: AED 79.9 million) Operational highlights – nine months ended 30 September 2017:Total Group connected capacity across the GCC reached 1,086,610 RT, with 38,199 RT of new customer connections added in the first nine months of the year as follows:23,825 RT in the United Arab Emirates3,000 RT in Bahrain11,374 RT in other GCC countries1.2 billion kilowatt hours of electricity was saved across the GCC – enough energy to power approximately 39,000 homes every yearThis prevented the release of almost 590,000 tons of carbon dioxide – the equivalent of eliminating the emissions of 118,000 vehicles annually Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, commented on the results: “Tabreed’s continuing growth for the third quarter of 2017 reinforces our position as a leading and best in-class district cooling company. It reiterates the confidence of our shareholders in our ability to execute on our strategy and deliver consistent results.” Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “Our ongoing growth reflects our commitment to meet the region’s growing demand for energy-efficient and environmentally-friendly cooling solutions. At the same time, we remain focused on shareholder value and are proud of the recent certification of Tabreed’s stock as Shari’a compliant, which should contribute to an expanded shareholder base. As we look ahead, we will harness our operational knowledge and capabilities towards continued growth with ongoing contribution to the region’s sustainable development.” Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca.

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today that its stock has become certified as Shari’a compliant.The announcement follows the recent meeting of the Islamic Banks’ Unified Committee for Shari’a Screening. As a result, Tabreed has been included on the committee’s List of Shari’a compliant companies for the listed companies on the Dubai Financial Market (DFM), and its stock is now traded by Islamic banks’ brokerage companies.Commenting on the news, Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “We are proud of the certification of Tabreed’s stock as Shari’a compliant for the purposes of investment and trading. This certification enables existing and new shareholders with a preference for Shari’a compliant financial instruments to trade in Tabreed’s shares, further widening the potential investor base for Tabreed. A broader potential investor base can only assist in increasing liquidity for Tabreed’s shares.”Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

Election follows successful completion of ENGIE investment in TabreedNational Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today the election of four new members to the company’s Board of Directors.The election of the four members to Tabreed’s Board of Directors was made by the company’s shareholders at a General Assembly held yesterday in Abu Dhabi and these elections fill all Board positions that became vacant on 10 August 2017.The General Assembly, which was chaired by Khaled Abdulla Al Qubaisi, Tabreed’s Chairman and attended by Tabreed’s Board of Directors and shareholders, follows the successful completion of the investment by ENGIE, the global energy company, to acquire 40% of the shares in Tabreed.The four new Board Members, who are all senior executives at ENGIE, are: Paulo Almirante, Executive Vice President, ENGIE Group; Sébastien Arbola, CEO, ENGIE Middle East, South & Central Asia and Turkey; Frédérique Dufresnoy, Deputy Director Métier Business to Territories and Frederic Claux, Head of Acquisitions, Investments and Financial AdvisoryCommenting on the announcement, Mr. Khaled Abdulla Al Qubaisi, Tabreed’s Chairman of the Board of Directors, said: “We are pleased to welcome to Tabreed’s Board four new members who are seasoned senior executives. Their wealth of experience and diversified expertise in both emerging and established markets will add significant value to the Board and support Tabreed in delivering on its ambitious vision.”Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today the successful completion of the investment by ENGIE, the global energy company, to acquire 40% of the shares in Tabreed for approximately AED 2.8 billion.Headquartered in France, ENGIE is a multinational energy leader and expert operator in the business of electricity, natural gas and energy services with a successful heritage spanning over a century.The completion of the transaction follows regulatory approval obtained by Tabreed in August 2017. Further to this, at their meeting on August 10, Tabreed’s Board of Directors called for a General Assembly, planned for September, where four new directors will be elected by Tabreed’s shareholders to replace those directors who have recently resigned in expectation of ENGIE nominating candidates to the Board. The General Assembly will also consider other matters.Jasim Thabet, CEO of Tabreed, said following the announcement: “With the successful completion of the transaction and major investment in Tabreed by global energy leader ENGIE, Tabreed is a regional company that is becoming international. We look forward to harnessing ENGIE’s best in-class operational and project financing excellence, which will build on our financial strength and leading market position to support us in the next phase of our ambitious growth plans.”Thabet added: “With the region’s growing cooling demand driven by population growth and investment in key infrastructure and development projects, our focus remains on the GCC while we will evaluate opportunities outside the region.”Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca, Kingdom of Saudi Arabia.

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional district cooling utility company, today released its 2017 first half consolidated financial results. The company continues to deliver solid performance and growth driven by its core chilled water business with new capacity and connections added across the GCC. The company also announced good progress towards completing the transaction to introduce ENGIE as a new major shareholder of Tabreed.Financial highlights – six months ended 30 June 2017:· Net profit attributable to the parent increased by 20 per cent to AED 192.7 million (H1 2016: AED 160.5 million)· Earnings per share increased by 20 per cent to 7.1 fils (H1 2016: 5.9 fils)· Group revenue increased by 10 per cent to AED 639.2 million (H1 2016: AED 578.6 million)· Core chilled water revenue increased by 17 per cent to AED 602.3 million (H1 2016: AED 516.0 million)· EBITDA increased by 12 per cent to AED 308.0 million (H1 2016: AED 275.4 million)· Share of results of associates and joint ventures increased by 29 per cent to AED 62.4 million (H1 2016: AED 48.2 million)Operational highlights – six months ended 30 June 2017:· Total Group connected capacity across the GCC increased to 1,084,451 Refrigeration Tons (RT), with 36,040 RT of new customer connections added in the first half of the year, as follows:· 22,863 RT in the United Arab Emirates· 3,000 RT in Bahrain· 10,177 RT in other regions· 595 million kilowatt hours of electricity was saved across the GCC – enough energy to power approximately 20,000 homes every year· This prevented the release of almost 297,500 tons of carbon dioxide – the equivalent of eliminating the emissions of 59,500 vehicles annuallyIn other developments, the company recently announced that global energy leader ENGIE will purchase 40% of Tabreed from Mubadala through the conversion of Mubadala’s Mandatory Convertible Bonds (MCBs) and transfer of 1.086 billion shares to ENGIE. Further to that announcement, at their meeting on 26 July, Tabreed’s Board of Directors approved the necessary increase in Tabreed’s share capital and conversion of the MCBs to shares.The transaction is expected to complete in the third quarter of 2017 once required regulatory approvals are obtained.Khaled Abdulla Al Qubaisi, Chairman, commented: “Tabreed has earned a leading position in district cooling with a clear vision to deliver consistent and sustainable results to investors and shareholders. This is reflected in Tabreed’s robust performance in the first half of 2017 with a net profit increase of 20 percent to AED 192.7 million. Its sound business model and growing customer and partner confidence is also reflected in the recent announcement of a major investment in Tabreed by global energy leader ENGIE, who will harness their long-standing experience to support Tabreed’s growth strategy and reinforce its reputation as a leading regional utility offering best in-class solutions and high quality long-term services.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “Tabreed is going from strength to strength with a growing presence across the GCC region, where we are proud to cool landmark projects and critical infrastructure developments. This is essential to driving business results and economic development. Profits from our associates and joint ventures has increased by 29 per cent to AED 62.4 million.”Thabet continued: “The planned investment in Tabreed by global energy leader ENGIE is further testament to Tabreed’s financial strength and leading market position. Tabreed Board approval of the necessary increase in share capital, and conversion of the MCBs, is a significant step and we look forward to welcoming ENGIE as a major shareholder of Tabreed. This brings us one step closer to the successful completion of the transaction, expected in the third quarter of 2017.As we look forward, our focus will continue to be on delivering high quality and advanced solutions and services to meet the region’s rising cooling needs, where we are well positioned to capture growth opportunities.”Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 72 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca.

National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, is pleased to announce that ENGIE is making an investment of approximately AED 2.8 billion to become a significant shareholder in Tabreed. Headquartered in France, ENGIE is a multinational energy leader and expert operator in the business of electricity, natural gas and energy services. As outlined in an announcement made earlier today by Mubadala Investment Company (Mubadala) and ENGIE, Mubadala will convert all of its mandatory convertible bonds into shares, with 1.086 billion shares (equivalent to a 40% shareholding in Tabreed) being transferred to ENGIE at a price of approximately AED 2.62 per share. The remaining shares will be retained by Mubadala, taking its total shareholding in Tabreed to 1.137 billion shares, or approximately 42%.Jasim Thabet, CEO of Tabreed, said following the signing ceremony: “This is a very positive development for Tabreed which underscores the progress made by Tabreed over the last several years as a leading district cooling company in the region. As Tabreed enters a new phase of growth, we are confident that we will benefit from ENGIE’s global industry-leading experience, especially in the areas of operations and business development which are cornerstones of our expansion strategy across the GCC. This new partnership is a strong endorsement of Tabreed’s financial strength and leading market position. We are very well placed to take advantage of growth opportunities in the region and we expect the presence of a global player like ENGIE to further enable us to reach our long-term objectives. We welcome ENGIE to Tabreed and express our continued appreciation to Mubadala for its support as a major shareholder in Tabreed.”The transaction is expected to complete in the third quarter of 2017 once the required regulatory approvals are granted.Tabreed is a partner of choice for organizations across the GCC in providing environmentally friendly district cooling solutions. With 71 district cooling plants located throughout the region, Tabreed currently delivers over 1 million refrigeration tons to key developments in the region including iconic infrastructure projects such as Abu Dhabi’s Al Maryah Island, Yas Island, Sheikh Zayed Grand Mosque, Dubai Metro, Dubai Parks and Resorts, and the Jabal Omar Development in the Holy City of Mecca.

Khaled Al Qubaisi appointed Chairman of Tabreed’s Board of DirectorsNational Central Cooling Company PJSC (DFM: Tabreed), the leading regional district cooling utility company, today released its 2017 first quarter (Q1) financial results. The Company’s performance benefited from the new connections made last year, in addition to over 20,000 Refrigerated Tons (RT) added during Q1 2017. These new connections, combined with Tabreed’s existing presence in the GCC, resulted in net profit increasing by 19% to AED 75.4 million.Financial highlights – three months ended 31 March 2017:Net profit attributable to the parent increased by 19 percent to AED 75.4 million (Q1 2016: AED 63.4 million)Earnings per share increased by 19 percent to AED 0.03Core chilled water revenue increased by 15 percent to AED 255.2 million (Q1 2016: AED 222.3 million)Share of results of associates and joint ventures increased by 5 percent to AED 22.9 million (Q1 2016: AED 21.9 million)Group revenue increased by 6 percent to AED 270.2 million (Q1 2016: AED 255.5 million)EBITDA increased by 13 percent to AED 140.8 million (Q1 2016: AED 124.8 million)Increased dividend distributed to shareholders for the fiscal year 2016 by 8 percent, to 6.5 fils per shareOperational highlights – three months ended 31 March 2017:Total group connected capacity across the GCC totaled 1,068,438 RT with 20,027 RT added in the first quarter of 2017, including:16,227 RT in the United Arab Emirates3,800 RT in QatarEnvironmental highlights – three months ended 31 March 2017:174 million kilowatt hours was saved across the GCC – enough energy to power approximately 5,800 homes in the UAE every yearThese power savings prevented the release into the atmosphere of 87,200 tons of carbon dioxide – the equivalent of eliminating the emissions of 17,400 vehicles annuallyTabreed’s Board of Directors also appointed Khaled Abdulla Al Qubaisi as Tabreed’s Chairman, succeeding Waleed Al Mokarrab Al Muhairi, who was instrumental in guiding the company through its recapitalization and return to profitability.Al Qubaisi, said: “The 19 percent increase in our net profit for Q1 2017 highlights the strengths of our core chilled water business, which continues to grow as a result of the new projects coming on line to supplement our strong existing operations across the GCC. Tabreed’s priority going forward continues to be delivering stable returns to shareholders, whilst expanding our operations throughout the GCC to boost the company’s long-term growth and success.”Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “As the leading district cooling company in the GCC, Tabreed is the partner of choice for providing energy-efficient, cost-effective and environmentally-friendly cooling solutions to organizations across the region. We strive to strengthen our presence in the region by building strategic partnerships with leading private and government entities, and delivering innovative district cooling solutions to our customers.”Thabet continued: “During the first quarter of 2017, Tabreed continued to add to its portfolio of landmark projects it supports with the acquisition of ICT’s district cooling plant, which provides cooling to the Nation Towers in Abu Dhabi.”The new board now consists of Ahmed Saeed Al Calily as Vice-Chairman, His Excellency Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education, as well as, Mohamed Jameel Al Ramahi and Saeed Ali Al Dhaheri.Tabreed provides its district cooling services to many of the region’s landmark projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, 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, Dubai Parks & Resorts, Nation Towers development, Pearl Island in Qatar, and Aramco Development Project in Al Dhahran in the Kingdom of Saudi Arabia.

8% higher cash dividend than 2015Shareholders of National Central Cooling Company PJSC (DFM: Tabreed), the regional UAE-based district cooling utility company, yesterday approved a dividend of 6.5 fils per share for the 2016 financial year.  This represents an 8% increase on the dividend paid out in 2015, driven by the company’s strong performance throughout 2016.The dividend was approved by the shareholders at the company’s Annual General Assembly (AGA), which was chaired by Khaled Abdulla Al Qubaisi, Tabreed’s board member, and attended by Tabreed’s Board of Directors, shareholders, and the company’s senior leadership team.Commenting on the announcement, Al Qubaisi said: “As a well-capitalized, stable utility company delivering robust results, we are fully committed to providing profitable returns to our shareholders. The 8% increase in cash dividend per share for 2016 is evidence of Tabreed’s solid performance and continuous growth, which is in line with the UAE’s vision for economic diversification and sustainable development.”Addressing Tabreed’s shareholders earlier at the meeting, Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said: “Tabreed is a partner of choice for developers when it comes to the cooling of major infrastructure projects. Our position and reputation enabled us to take on new projects and surpass 1 million Refrigeration Tons (RT) of cooling capacity in 2016. Providing high-quality and reliable cooling services to our existing customers and pursuing growth opportunities across the region will be our focus in the coming years.”Earlier this year, Tabreed released its audited financial results for 2016, which witnessed a robust 6% net profit increase to reach AED 367 million. The increase was mainly due to the addition of 74,034 RT to its existing cooling capacity during the year through the completion of projects such as Dubai Parks and Resorts and the acquisition of a cooling plant from International Capital Trading (ICT) in Abu Dhabi, building on Tabreed’s established presence in the GCC.Regionally, Tabreed now has several major projects under development, including King Khalid International Airport in Riyadh, Saudi Arabia, and a third district cooling plant in West Bay in Doha, Qatar.Tabreed provides district cooling services to many of the region’s landmark projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, as well as all 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, Dubai Parks & Resorts, Pearl Island in Qatar, and the Aramco Development Project in Dhahran in the Kingdom of Saudi Arabia.

Board of Directors recommends increasing dividend to 6.5 fils per shareNational Central Cooling Company PJSC (DFM: Tabreed), the leading regional district cooling utility company, today released its audited 2016 financial results. The Company added 74,034 RT to its cooling capacity during the year through completion of projects such as Dubai Parks and Resorts in Dubai and the acquisition of a plant from International Capital Trading (‘ICT’) in Abu Dhabi. These additions combined with Tabreed’s existing presence in the GCC drove the company’s strong performance in 2016 with 6 percent higher net profit, reaching AED 367 million. As a result of this robust performance, Tabreed’s Board of Directors will recommend increasing cash dividends for 2016 to 6.5 fils per share (up from 6 fils per share for 2015).Financial highlights – twelve months ended 31 December 2016:* Net profit attributable to the parent increased by 6 percent to AED 367.4 million (2015: AED 345.3million)* Group revenue increased by 6 percent to AED 1,279.9 million (2015: AED 1,204.0 million)* Core chilled water profit from operations increased by 5 percent to AED 387.3 million (2015: AED 370.4 million)* EBITDA increased by 7 percent to AED 583.2 million (2015: AED 544.7 million)* Share of results of associates and joint ventures increased by 19 percent to AED 117.0million (2015: AED 98.7 million)Operational highlights – twelve months ended 31 December 2016:* Total group connected capacity crossed the 1m RT milestone during the year. Tabreed provides 1,048,411 RT to customer across the GCC with 74,034 RT added in 2016.o 62,496 RT of new customer connections made to major regional projects, including Dubai Parks and Resorts in Dubai and Jabal Omar Development Project in the Holy City of Meccao 11,538RT added following acquisition of ICT’s district cooling plant in Abu Dhabi, financed by a non-recourse project finance loan from FGB* New concession signed for 35,000 RT to supply cooling to King Khalid International Airport in Riyadh, Saudi Arabia* Over 1.4 billion kilowatt hours of electricity was saved across the GCC – enough energy to power approximately 48,000 homes every year* This prevented the release of almost 713,000 tons of carbon dioxide – the equivalent of eliminating the emissions of 143,000 vehicles annually* Emiratization reached nearly 40% throughout the company’s managementWaleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “We continue to demonstrate our ability to provide shareholder value by delivering consistent results, increasing our 2016 net profit by 6 percent to AED 367 million. Our operations throughout the GCC are the foundation of our business and play a key role in positioning the company for long-term growth and success. Our strength in the GCC is underscored by our growing list of projects, including King Khalid International Airport and the Jabal Omar project in the Kingdom of Saudi Arabia, among others.”“Our top priority continues to be delivering stable returns to our shareholders. Based on our strong performance in 2016, the company’s Board of Directors will recommend increasing cash dividends to 6.5 fils at the upcoming annual general assembly,” said Al Muhairi.Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “The development of new district cooling plants such as the one developed for Dubai Parks and Resorts, the largest integrated theme park destination in the region; and the acquisition of ICT’s district cooling plant which provides cooling to Nation Towers development, played a large role in our success and emphasizes the growing importance district cooling provides to our customers in terms of energy savings and environmental benefits. These projects have helped strengthen and expand our presence across the UAE, and enabled us to surpass the significant milestone of 1 million RT of cooling capacity.”“Over the coming years we plan to continue to provide high-quality and reliable cooling services to our customers as we have done for the past 19 years. This provides the foundation for further growth in our presence in the UAE and throughout the region,” said Thabet.Tabreed provides its district cooling services to many of the region’s landmark projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, 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, Dubai Parks & Resorts, Pearl Island in Qatar, and Aramco Development Project in Al Dhahran in the Kingdom of Saudi Arabia.

New acquisition increases Tabreed’s portfolio to 71 plantsNational Central Cooling Company PJSC (‘Tabreed’), the leading UAE-based district cooling utility company, today announced the acquisition of a district cooling plant from International Capital Trading (‘ICT’). The acquisition will strengthen Tabreed’s portfolio to 71 district cooling plants throughout the GCC, and add more than 11,500 Refrigeration Tons (‘RT’) of cooling to its existing connected capacity.The district cooling plant provides cooling to ICT’s Nation Towers development, located on the Abu Dhabi Corniche which is considered one of the most prominent landmarks on Abu Dhabi’s skyline. The development includes Nation Galleria Mall, Nation Towers Offices, Nation Towers Residences, Nation Riviera Beach Club and the St. Regis Abu Dhabi Hotel.The district cooling plant will be owned by Prime District Cooling LLC (‘Prime’), a special purpose vehicle set up by Tabreed and ICT as JV partners to acquire the plant. Tabreed will own a 75% share in Prime with ICT holding the remaining 25% share of the JV. The acquisition has been mainly funded by an AED 80 million, 15 year non-recourse project finance loan from First Gulf Bank, Abu Dhabi.Jasim Husain Thabet, Tabreed’s CEO, said: “This acquisition expands our presence in Abu Dhabi by supplying cooling to one of the most exciting retail properties on the Abu Dhabi Corniche, increasing our current number of plants across the GCC to 71 plants. The acquisition underscores our commitment to support and fulfill current and future infrastructure needs of large scale developments. Our partnership with ICT, a leader in Abu Dhabi’s business environment, enables the landmark development to benefit from Tabreed’s 18 years of experience in operating and maintaining district cooling plants which in turn contributes to the sustainable and economic development of the UAE. We look forward to working with ICT on this venture and growing our portfolio of customers that we support across the region.” Hamad Abdullah Al Shamsi, ICT’s CEO, said: “Tabreed has a longstanding track record of providing quality services to its clients and partners in the UAE and across the GCC. Our partnership enhances our ability to provide Tabreed’s high quality and efficient district cooling services to the guests, residents and businesses of Nation Towers.”    Tabreed provides its district cooling services to many of the region’s landmark projects including all the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, 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, Dubai Parks & Resorts, Pearl Island in Qatar, and Aramco Development Project in Al Dhahran in the Kingdom of Saudi Arabia.