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Emirates Central Cooling Systems Corporation PJSC (Empower) said the volume of consumption of its district cooling services (Refrigeration Ton hours-RTh) over the past five years jumped 54%, with the increase in 2023 being 16% compared to 2022.
The Dubai-listed company claims its market share in district cooling market in the emirate has exceeded more than 80% by the end of 2023.
The company said in a bourse filing to Dubai Financial Market (DFM) that demand drivers included high occupancy rates in existing real estate projects, and a significant increase in the new mixed-use projects added to its portfolio.
Empower said it had delivered district cooling services to 1,527 buildings in Dubai in 2023, 66% of which were residential and 14% commercial and office buildings, 13% hotels and hospitality, health 2% and the remaining 5% in education, entertainment, shopping centres and other sectors.
It is one of two Dubai-listed cooling companies along with Abu Dhabi-based Tabreed.
Tabreed announced cooling projects in Oman and India over the past year.
(Writing by Imogen Lillywhite; editing by Brinda Darasha)
