Tabreed and Dubai Holding completed the formation of a joint venture.

Tabreed, a developer of district cooling solutions company, and Dubai Holding, a real estate company, completed the formation of a joint venture. Tabreed is holding a 51% stake while Dubai Holding has 49%. Financial terms were not disclosed. “This agreement reinforces Dubai Holding’s long-term vision of developing sustainable communities with high-quality infrastructure at their core. Palm Jebel Ali is one of Dubai’s most ambitious developments and by incorporating district cooling services we support our customers and align to our commitment to deliver future-ready urban environments,” Omar Karim, Dubai Holding Investments Chief Executive Officer.