Transport & Infrastructure
2020 Apr 06 Mon, 10:03:42 am

Tabreed acquires AED2.48 billion deal with Emaar district cooling business

DUBAI, 6th April, 2020 (WAM) -- The National Central Cooling Company, Tabreed, has acquired an 80 percent stake in Emaar Properties' Downton Dubai district cooling business. The UAE-based district cooling developer announced the AED2.48 billion (US$675 million) acquisition on Monday, noting that Emaar will retain a 20 percent stake as part of the long-term partnership. Downtown Dubai is Emaar’s flagship mega-development at the heart of the city. The destination is home to Burj Khalifa – the world’s tallest building, and other landmark residential, commercial and...