UAE cooling giant Tabreed targets overseas growth in 2021

UAE cooling giant Tabreed targets overseas growth in 2021

Fresh from a year that included two multi-million dollar deals with the UAE's biggest real estate developers, National Central Cooling Company (Tabreed) CEO, Bader Saeed Al Lamki, has revealed plans to target three key countries in 2021 – Saudi Arabia, India and Egypt.

Last week, it was announced that Aldar Properties had sold two of its district cooling assets on Abu Dhabi's Saadiyat Island to Tabreed for AED963 million ($263m). It followed a deal completed in April where Tabreed bought Emaar Properties' Downtown Dubai district cooling business, which was worth AED2.48 billion ($675.3m).

Al Lamki told Arabian Business it had been “a good year”, but there were no thoughts of resting on their laurels as the company, which has 83 district cooling plants, delivering over 1.342m refrigeration tons to key projects across the UAE, heads into 2021.

He said: “We will continue with the same financial discipline as well as operation excellence in a spirit of partnership with all our clients, existing clients and future clients.”

That includes potential growth opportunities in Saudi Arabia, India and Egypt, as well as building on the company's presence in Bahrain and Oman, he said.

National Central Cooling Company (Tabreed) CEO, Bader Saeed Al Lamki

Last year, Tabreed acquired an