Tabreed and Dubai Holding Investments Sign Landmark Agreement for District Cooling at Palm Jebel Ali

National Central Cooling Company (Tabreed) and Dubai Holding Investments have entered into a strategic concession agreement to deliver district cooling services to Palm Jebel Ali, one of Dubai’s most visionary developments.

The agreement marks the establishment of a joint venture, with Tabreed owning 51 percent and Dubai Holding Investments holding 49 percent of the venture.

This partnership aims to provide sustainable and efficient cooling solutions, contributing to the infrastructure of the ambitious Palm Jebel Ali project. With an estimated investment of AED 1.5 billion, the cooling network is expected to deliver approximately 250,000 RTs of cooling capacity by 2027. Construction is slated to begin in Q2 2025, subject to customary approvals.

The agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of key officials from both organizations, along with Mubadala and ENGIE, Tabreed’s major shareholders. The partnership reflects Mubadala’s commitment to sustainability, with Tabreed playing a crucial role in driving green initiatives.

Dr. Bakheet Al Katheeri, Chairman of Tabreed, emphasized the importance of the company’s role in sustainability, while Karim highlighted Dubai Holding’s focus on sustainable urban development. Al Marzooqi echoed the significance of Palm Jebel Ali, describing it as a transformative project set to shape Dubai’s future.

This milestone reflects both companies’ dedication to contributing to Dubai’s vision of future-ready, sustainable urban environments.

News Source: Emirates News Agency