Dubai, UAE – Emirates District Cooling (Emicool) LLC, a leading provider of sustainable district cooling services in the UAE and a joint venture between Dubai Investments and Actis, has announced signing of a concession agreement with Al Reef Cooling Company, which holds the exclusive district cooling concession for Al Reef Downtown in Abu Dhabi. The concession agreement marks Emicool’s entry into the Abu Dhabi market and reinforces its strategy of expanding its presence across the UAE through long-term concessional models.

The Al Reef district cooling plant has an installed capacity of 8,005 TR (tons of refrigeration) and a connected capacity of 9,629 TR. It currently serves 46 buildings, over 1,800 residential customers, and around 36 retail units. Emicool officially assumed operational management of the plant in July 2025 and plans to implement efficiency upgrades in line with its Build, Own, Operate and Transfer (BOOT) business model.

Dr. Adib El Moubadder, CEO of Emicool, said: "The concession agreement for Al Reef Cooling Company marks a defining milestone in Emicool’s growth journey. Securing the exclusive district cooling concession for Al Reef Downtown not only establishes Emicool’s presence in Abu Dhabi but also significantly strengthens the Company’s national portfolio of district cooling assets. This breakthrough reflects Emicool’s strategic focus on long-term concessional models, operational excellence, and sustainable expansion, enabling it to deliver reliable, efficient, and scalable cooling solutions to a growing customer base across the UAE."

Mr. Mohamed Al Qubaisi, Chairman of Manazel Real Estate, commented: "District cooling is a critical component of sustainable urban development, and Emicool has established itself as a leading provider in the region. This agreement ensures that the Al Reef community will continue to benefit from reliable and efficient cooling solutions. We are confident that Emicool’s expertise and operational excellence will support the long-term needs of residents and businesses at Al Reef Downtown while contributing to the growth and modernization of Abu Dhabi’s district cooling infrastructure."

The Al Reef plant, serving predominantly residential buildings with some retail clients, represents a strategic addition to Emicool’s growing portfolio of district cooling facilities across the UAE. The concession agreement underscores Emicool’s commitment to expanding its national footprint, enhancing operational efficiency, and delivering scalable, reliable cooling solutions to key urban developments.

About Emirates District Cooling Company (EMICOOL)

Emirates District Cooling (Emicool) LLC is a leading district cooling service provider in the UAE. The company was established in 2003 with headquarters at Dubai Investments Park [DIP]. Emicool ensures continuously exceeding customer expectations by providing district cooling services through its competent work force which delivers world-class levels of reliability, efficiency, safety and environmental sustainability. Since its inception, the company has achieved considerable success and currently provides services to Dubai Investment Park (DIP), Dubai Motor City, Dubai Sports City, Midriff Hills, Palazzo Versace & D1 tower, DWTC (Expo 2020), Jumeirah Bay, DAMAC Hills, Al Taif Business Centre and RTA 2020 Route. Emicool is a Joint Venture between Dubai Investments PJSC and an Actis-led consortium, which also includes British Columbia Investment Management Corporation (BCI).

About Dubai Investments

Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 15,854 shareholders, a paid-up capital of AED 4.25 billion and total assets of AED 22.7 billion. Incorporated in 1995, the company has grown exponentially with investments in several businesses across diverse sectors. Dubai Investments portfolio includes key businesses with over 30 different companies. Since its inception, Dubai Investments has introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts, driving progress across key sectors and markets including real estate, building materials, construction and contracting, education, healthcare, financial services and other services.

About Actis

Actis is a leading growth market investor in sustainable infrastructure. Actis invests in structural themes that aim to support long-term, equitable growth in defensive, critical infrastructure across energy transition, digitalisation transition, and supply chain transformation. Actis believes that the firm’s decades of global experience, operational know-how and strong culture allow it to create global sustainability leaders at scale. Actis is a signatory to the Principles for Responsible Investment (PRI), an investor initiative supported by the United Nations. In October 2024, Actis joined forces with General Atlantic, a leading global growth investor, creating a diversified, global investment platform, together we have approximately $107 billion in combined assets under management. Actis operates as General Atlantic’s sustainable infrastructure business. This strategic combination further enhances Actis’ focus as a leader in global sustainable infrastructure. You can learn more about Actis at www.act.is