The National Cooling Company (Tabreed) and Dubai Holding Investments, a subsidiary of Dubai Holding, have signed a licensing agreement for the provision of centralized cooling services for the Palm Jebel Ali project in Dubai. Under the agreement, a joint venture will be created, in which Tabreed will hold 51% of the shares, while Dubai Holding Investments will hold 49%. Construction of the district cooling network is planned to begin in the second quarter of 2025, and cooling services are expected to commence by 2027.
The president of Tabreed's commission and the executive director of the investment sector at Mubadala, Dr. Bakheet Al Katheeri, stated: "Mubadala has an outstanding international reputation as a responsible investor with a sustainable focus on the environment, social and corporate responsibility, being a key part of our investment portfolio, as well as an important cornerstone of sustainable community development."
On the other hand, the executive director of Dubai Holding Investments, Omar Karimi, noted that this agreement strengthens Dubai Holding's long-term strategy for the development of sustainable communities with high-quality infrastructure, with Palm Jebel Ali being one of the most ambitious projects in Dubai. Tabreed's leader Khalid al-Marzouki added that thanks to their extensive experience and advanced technologies, they ensure reliable and environmentally friendly cooling, which benefits residents, visitors, and partners alike.
