National Central Cooling Company to acquire an 80% stake in the Downtown Dubai district cooling business of Emaar Properties for $675m.

National Central Cooling Company, a district cooling company based in Abu Dhabi, agreed to acquire an 80% stake in the Downtown Dubai district cooling business of Emaar Properties, a real estate development company located in the United Arab Emirates, for $675m. "This is a historic achievement for Tabreed and a truly transformational transaction for the company, accelerating our growth trajectory and consolidating our position in Dubai. Tabreed is an international powerhouse in district cooling, with over 22 years of experience, operational excellence across 83 plants and investments in six countries. This acquisition, in the world’s largest district cooling market, is a further testament to our financial strength and leading market position. We are well placed to take advantage of growth opportunities and expect our enhanced presence within the Dubai market to further enable us to reach our long-term objectives," Khaled Abdulla Al Qubaisi, National Central Cooling Company Chairman.