Tabreed acquiring Aldar’s Saadiyat Island district cooling companies for $261mn ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News
Tabreed acquiring Aldar’s Saadiyat Island district cooling companies for $261mn
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 25
Leading UAE-based international district cooling developer Tabreed (National Central Cooling Company) looks set to be cooling some of Abu Dhabi’s most prestigious developments after it began the acquisition of two district cooling companies owned by Aldar Properties. Saadiyat Cooling LLC (SCL), which is currently majority owned by Aldar Properties PJSC, and Saadiyat District Cooling Sole Proprietorship LLC (SDCL), which is wholly owned by Aldar Investment Properties PJSC, will be sold to the firm at a cost of $261 million. Both are located on Saadiyat Island home to Louvre Abu Dhabi and Manarat Al Saadiyat, and will take Tabreed’s Abu Dhabi total cooling capacity to 655k RT from a total of 4

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