RESET aims to achieve 18% energy savings through reduced electricity consumption

Project entails revamping select facilities and is scheduled for completion in Q1 2024

Abu Dhabi, UAE: RESET, a leading UAE-based company specializing in energy and water-saving solutions through energy performance contracts, and subsidiary of International Holding Company (IHC), has forged a partnership with Mismak Properties for the Rimmal residential towers in Jaddaf, Dubai. This collaboration marks a significant milestone in advancing sustainability efforts in the region and gathering momentum for sustainable urban development.   

Scheduled for completion in Q2 2024, the project will engage RESET’s expertise and solutions to affect a comprehensive overhaul of air-conditioning and swimming pool systems in the two towers, which include 336 apartments. This revamp will significantly reduce energy consumption and operational costs. The company aims to achieve 18% energy savings through reduced electricity consumption, with a payback of around two years. The Rimmal residential towers have been operational since 2019.

Frederic Cantin, General Manager of RESET, said: “Our collaboration with Mismak Properties is a pivotal move in our target to deliver over AED 15 million in savings to our UAE-based clients over the next 12 months. This partnership also underscores our commitment to – and pursuit of sustainability and energy efficiency. As global concerns about climate change intensify, the demand for innovative energy-saving solutions is on the rise. Our tailored offerings bring commercial viable action, reflecting our dedication to creating a more sustainable future for the region.”

Jasim Ali Ali, CEO of Mismak Properties, said, “At Mismak properties, we are committed to excellence, and we focus on projects that provide long-term benefits to investors and customers. Our partnership with RESET to achieve substantial energy savings in our Rimmal residential towers presents us with an opportunity to contribute to the sustainability efforts in the UAE, bring value for stakeholders, and help build a greener tomorrow."

RESET is a UAE-based company that provides turnkey energy and water saving solutions. Headquartered in Abu Dhabi, RESET’s shareholders are International Holding Company (IHC) and Alliances for Global Sustainability (AGS). RESET tailors a comprehensive set of solutions to meet its clients’ needs including setting energy saving measures for water, HVAC, lighting, and Building Management Systems (BMS). Its projects have resulted in an average reduction of 25% in electricity costs and 50% in water costs annually. 

About RESET
RESET is a leading energy service company (ESCO) based in the UAE, renowned for its expertise in delivering comprehensive energy and water-saving solutions for buildings and infrastructure. Committed to sustainability, RESET prioritizes the optimization of energy consumption, reduction of environmental impact, and attainment of cost savings. 

Through their projects, RESET has consistently achieved an impressive average reduction of 25% in electricity costs and 50% in water costs. Aligned with the UAE government's strategic environmental initiatives, RESET is actively working towards achieving net-zero emissions by 2050, contributing to the global fight against climate change. Their overarching goal is to significantly enhance energy savings throughout the UAE by optimizing utilities costs and minimizing carbon footprints. 

Projections indicate that RESET's solutions will yield utility cost savings exceeding AED 92 million across 25 facilities in the UAE. With a growing presence in diverse sectors including commercial, residential, hospitality, and education, RESET aims to revolutionize energy consumption patterns. By leveraging their core strategy, RESET ensures long-term energy and cost savings across all verticals. As the global landscape continues to evolve, RESET remains steadfast in their commitment to providing cost-effective solutions that pave the way for a more sustainable future in the UAE and the wider GCC region.

About International Holding Company
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 879 billion as of September 30, 2023. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.

IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations.

Comprising more than 500 subsidiaries and over 107,000 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.
    
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.

www.ihcuae.com 

About Mismak Properties:
Mismak Properties is a Sole Proprietorship limited liability company, which is a wholly owned subsidiary of FAB, acts as a holding company for the Group's real estate investment and development activities, was established in the Year 2006. At MISMAK Properties, we work with world leading consultants from design to construction, to create groundbreaking developments with unique architectural designs that offer exterior beauty and efficient interior spaces. For more information, please visit www.mismak.ae