In a bid to conserve energy and lower their carbon footprint, Manazel Real Estate is proud to officially launch two district cooling plants at a cost of AED 293m, adding itself to a short list of major real estate developers currently doing their part to reduce the consumption of resources to create a more sustainable development.
Abu Dhabi, January 22nd 2012 - As UAE residents enjoy the gentle breezes of this year's winter, Manazel Real Estate sets its sights on the harsh heat of summer by launching two district cooling plants to benefit two of its major housing and commercial developments. The two plants, Al Reef Cooling and Capital Cooling which cost 101m AED and 192m AED respectively, utilize the latest chilled water systems to service their respective areas: Al Reef Downtown Apartments and 9712 Capital development.
Al Reef Cooling will provide Al Reef Downtown Apartments with 8000 RT (28,000 KW) of cooling energy. The project consists of 46 buildings, which accommodate 1818 residential units, retail stores, a supermarket, two community centers and underground parking. On the other hand, Capital Cooling will initially dedicate a cooling load capacity of 16,600 RT (58,100 KW) to Prestige Towers and the Capital Mall, with future plans to span the entire 9712 Capital development with 30,000 RT (105,000 KW).
His Excellency Mohamed Mehanna Al Qubaisi, Chairman of Manazel Real Estate, comments: "The recent economical growth and increase of energy requirements in the region have driven us to search for efficient energy management systems to cool our residential and commercial developments. District cooling saves 40% of energy consumption compared to conventional systems and is the ultimate solution to reduce the regions energy consumption. With district cooling and a fully operational affluent water treatment plant, the Al Reef project is becoming a sustainable development, leading to a major reduction in the project's carbon footprint which our residents and shareholders can be proud of."
Further expressing his joy at the inauguration, Al Qubaisi emphasized the importance of this addition to two of Manazel's most successful developments to date: 9712 Capital, a project covering 230,000 square meters, and Al Reef project which spans 130,639 square meters. The launch goes hand in hand with Manazel's new collaboration with the National Central Cooling Company "Tabreed", which will be operating and maintaining the new district cooling plants. Tabreed, headquartered in Abu Dhabi, is the leading local company in its field, and is recognized for its vision towards cooling solutions that service a wide range of governmental institutions, residential compounds, commercial entities and private companies throughout the Middle East.
Al Qubaisi comments further: "The United Arab Emirates was the first in the Middle East to recognize the importance of district cooling as an alternative to conventional air conditioning systems so Manazel is proud to contribute to the UAE's vision for prosperity by stepping in line with its government's strategy towards progress in all fields, most importantly the reduction of energy consumption".
Manazel Real Estate has considered the overall expense of utilizing district cooling within its projects. District cooling systems distribute chilled water to multiple buildings for air conditioning, which makes it a reliable and convenient source of cooling energy, saving in electrical utility connection costs due to reduced electrical load of the building. This allows residents to enjoy the services at reasonable monthly rates while feeling secure in the fact that Manazel Real Estate is doing their part to support the environment.
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About Manazel Real Estate
Headquartered in Abu Dhabi, Manazel Real Estate is counted as one of the region's leading Real Estate developers of large-scale superior quality residential, retail, and commercial property projects for those with a medium income, which includes residents of the United Arab Emirates, as well as branching out to residents of the Middle East and North Africa. Manazel is strongly dedicated to the development of lively compounds within well-planned, richly serviced environments.
Manazel Real Estate is the first private shareholding company in the Emirates which accumulates its capital through initial offering, in accordance to Shariah law.
Among the most important projects currently in development by Manazel Real Estate, is Dunes Vilage at Dubai Investment Park, Al Reef Villas, near Abu Dhabi International Airport, and 9712 Capital at Mohammed Bin Zayed City.
About National Central Cooling Company (PJSC) Tabreed:
National Central Cooling Company (PJSC) "Tabreed" was established in June 1998 and has become a leading central cooling company on a global scale. Tabreed provides its services throughout the GCC and operates offices in Abu Dhabi, Dubai, Ras Al Khaima, Doha, Manama, Khubar, and Muscat. It is renowned as a provider of energy saving gas and electric cooling solutions and utilizes advanced technology to delivers facilities that diminish energy waste, electric expenses, and maintenance issues.
For more information regarding this press release, please contact:
Mr. Eyad Al Badda
00971 50 8946650
00971 4 3448807
eyad@mediumr.com
Medium Rare - Media & Public Relations Division
© Press Release 2012
