A concession agreement to provide regional cooling services for “Palm Jebel Ali”

The National Central Reading Company (cooling) and “Dubai Holding for Investments” affiliated with “Dubai Holding” concluded a concession agreement to provide regions cooling services for the “Palm Jebel Ali” project in Dubai.

According to the agreement, a joint company will be established between the two parties, from which the “Reading” company owns a 51%stake, while “Dubai Holding Investments” has 49%, and this structure will directly contribute to enhancing cooling efficiency, facilitating the exchange of information and data and protecting the rights of customers, while ensuring sustainable cooling solutions for the project, which is one of the most prominent transformational projects in Dubai.

Yesterday, a statement confirmed that the agreement is supported by the main shareholders in “Reading”: “Mubadala” (it owns 42% of the cooling), the French “Engy” company for energy and low carbon services (owns 40% of the cooling company), while the agreement was signed by the CEO of “Reading”, Khaled Al -Marzouki, and the CEO of “Dubai Holding Investments”, Omar Karim.

According to the statement, it is expected that the construction of the regions cooling network will start in the second quarter of 2025, after completing the obtaining of the relevant official approvals, and the provision of cooling services will be started by 2027, and the regions cooling system in the “Palm Jebel Ali” will be able to cool about 250 thousand tons of cooling, and requires an investment estimated at about 1.5 billion dirhams.

“Mubadala) has a prestigious global reputation as an official investor, with a firm focus on the framework of environmental, social and institutional governance, and it is an essential part of our investment portfolio and a president of sustainability and the progress of societies.”

He added, “This agreement represents an important achievement in the history of our 27 -year company, and confirms our commitment to providing sustainable and highly efficient cooling solutions to major development projects.”

For his part, Omar Karim, CEO of Dubai Holding Company, said: “This agreement is strengthening the long -term (Dubai Holding) vision to develop sustainable societies with high -quality infrastructure, as (Palm Jebel Ali) is one of the most ambitious Dubai. By integrating cooling areas into their infrastructure, we support our customers and are committed to providing an urban environment ready for the future.

In the same context, the CEO of Tabred Company, Khaled Al -Marzouki, said: “(Palm Jebel Ali) is a transformative project that will draw the features of the future of Dubai, and we are proud of our role in ensuring the consensus of its infrastructure with the finest international standards.”

He added, “Thanks to our extensive experience and advanced technologies, we will provide reliable and friendly cooling to the environment, in a way that benefits the population, visitors and partners alike.”