Tabreed expands operations to Abu Dhabi's Sas Al Nakhl

The scheme is expected to be ready by March 2007 and the complex is comprised of four residential towers, 12 floors each and a 2-storey shopping center that will host a parking area, two underground floors, cinema theatres and an Ice Skating rink.

"Sas Al Nakhl area is undergoing a lot of development and it is obvious that the city of Abu Dhabi is expanding at a very fast pace and the Al Kheeli Complex is one of many examples" said Mohamed Al Qamzi, Chief Operating Officer, Tabreed. "Our services are very flexible and can easily spread out along with our customers' needs to provide them with the best cooling solutions and all this is proved by our vast service coverage to most of the UAE emirates and cities. It gives Tabreed a great pleasure to help in developing new growing areas like Sas Al Nakhl and we trust that our unique services will add value and quality to this prominent development" added Al Qamzi.

Commenting on the contract, Mr. Ibrahim Al Jaffal, Managing Director, Al Dhafra International Group, developers of Al Kheeli Complex, said: "We have been very impressed with Tabreed's growth, development and outstanding services. We aim to bring the best to our clients and with Tabreed's proven expertise, experience and technological innovation across the region, we trust we have made the best choice of using Tabreed's unique district cooling systems".

"One of the numerous benefits of district cooling services is that it reduces power consumption by half, thus saving clients and tenants on power bills every year. District cooling also maximizes cost efficiency in maintenance and service as well as a much improved security. Therefore there is no wonder that Al Kheeli chose us to serve their latest development" Added Al Qamzi.

Over the last few months, Tabreed had signed a number of multi-million contracts with high profile developments and organizations and its financial results for the 2004 fiscal year showed a profit of 34 million, with a rise of 34% over the year 2003. Also, during the company's latest annual assembly meeting with its shareholders, the company had announced a dividend distribution of 5% in cash and the company capital was doubled to become 1 billion Dirhams.

District cooling is widely used throughout the UAE and around the world, piping chilled water from a centralised plant to a range of residential, commercial and government buildings. Landlords are attracted to the maintenance-free, economic and environmentally friendly cooling benefits of the technology, while tenants enjoy reduced ambient noise and better temperature control in their homes, making it the perfect solution to all cooling requirements.