Multiply Group’s PAL has an existing portfolio of eight long-term concessions serviced by five cooling plants, with four more in the pipeline
Tabreed
Latest in Tabreed
district cooling
Tabreed has a flat Q1 but excitement builds over its Palm Jebel Ali deal
Revenue for Q1 2025 falls marginally to $126.9mn as consumption decreased nearly 7% due to colder weather; EBITDA up 4% to $77.1mn
district cooling
Tabreed and Dubai Holding form JV to build $410mn district cooling network for Palm Jebel Ali
Anticipated total cooling capacity of appx 250,000 RTs; First phase of cooling services to be delivered by 2027; Tabreed to own 51% stake in the JV
carbon emission
Tabreed raises $700mn in oversubscribed green sukuk debut
The new sukuk will be listed and traded on the London Stock Exchange’s international securities market
Abu Dhabi
District cooling company Tabreed’s net profit increases by 32%
Company uses free cash to repurchase a total of $240 million of its outstanding Sukuk; Proactive debt management saves 15% in net financial costs
Abu Dhabi
Tabreed’s district cooling consumption grows 6% for 9M 2024
Revenue increases to $500 million; Normalised net profit before tax increases by 4% to $125.8 million; Debt reduced by 12%
district cooling
Tabreed first district cooling company to be eligible to trade carbon credits
Abu Dhabi company’s plant completes Verra’s ‘Verified Carbon Standard’ programme that confirms district cooling’s energy efficiency
district cooling
Tabreed shareholders approve new record high dividend payment for FY 2023
The high dividend payout comes after the company registering a 25 percent jump in its net profit and 9 percent rise in its revenue last year
Abu Dhabi
UAE’s Tabreed wins district cooling bid for Pharma City in Hyderabad
Phase 1 of the project will comprise construction of facilities of 2,500 RT for approximately $9.85 million
Abu Dhabi
Tabreed partners with TATA Realty for first district cooling project in India
Its first project will feature a $12 million investment in building an operating District Cooling system at Intellion Park in Gurugram
district cooling
Saudi’s PIF takes 30% stake in district cooling firm Tabreed
Saudi sovereign wealth fund announces Tabreed stake acquisition
100% foreign ownership
UAE cooling major Tabreed to allow 100 percent foreign ownership in the company
The announcement led to the company share price posting a jump of more than 10 percent on DFM on Tuesday to close at AED3.15
CapitalMed
Tabreed signs $83 million contract to provide district cooling at Egypt’s healthcare city
The move is part of the district cooling provider’s expansion into the Egypt market and will cater to the needs of the Cairo-based healthcare city
100% foreign ownership
District cooling major Tabreed to allow 100 percent foreign ownership in the company
Previously the limit had been set at 49 percent, in line with the then prevailing law regarding foreign ownership applicable to local companies
cash dividend
District cooling firm Tabreed approves highest-ever dividend payments to its shareholders as it eyes further growth in 2022
Tabreed owns and operates 86 plants in its portfolio across the GCC, including 75 in the UAE, three in Saudi Arabia, seven in Oman, and one in Bahrain, in addition to other international projects and operations
Adel Salem Al Wahedi
Tabreed launches Green Financing Framework to fund projects aligned with UAE’s carbon-neutral objectives
Tabreed’s Green Financing Framework and the Second Party Opinion will demonstrate the sustainable nature of the firm’s District Cooling operations, which utilises 50% less power than conventional cooling, while providing an essential service in the GCC and wider region