National Central Cooling Co.

Logotype for National Central Cooling Co.
Ticker/ISIN
TABREED
AEN000501017
Market/Country
Dubai Financial Market
United Arab Emirates

About National Central Cooling Co.

Country of Origin: United Arab Emirates

Tabreed is a UAE-based utility company that provides energy-efficient, cost-effective and environmentally-friendly year-round district cooling solutions in the GCC.  Founded in 1998, and listed on the Dubai Financial Market, Tabreed’s cooling systems are an integral part of the region’s infrastructure. The company now delivers over a million Refrigeration Tons (RT) to major government, commercial, and residential projects. Tabreed owns and operates 83 plants in its portfolio across the GCC..

Latest Pressrelease Summaries from National Central Cooling Co.

Tabreed, a leading district cooling company, has settled its USD 500 million Trust Certificates due in 2025, originally issued in 2018. This Sukuk was oversubscribed by 50% and carried a 5.5% profit rate. Prior to maturity, Tabreed repurchased certificates worth USD 249.5 million, and has now settled the remaining USD 250.5 million. The settlement is part of Tabreed’s proactive debt management strategy, highlighting its strong liquidity and disciplined capital structure. The company recently raised an AED 1.8 billion Shariah-compliant debt facility. Executives emphasized the company's financial strength, commitment to balance sheet resilience, and investment-grade ratings from Moody’s and Fitch.
Sean Magee, Secretary of the Board of Directors, informed H.E. Waleed Al Awadhi, CEO of the Securities & Commodities Authority, and H.E. Hamid Ali, CEO of the Dubai Financial Market, about the redemption and cancellation of US$500 million Sukuk issued in October 2018. The Sukuk matured and was redeemed as of 31 October 2025, and subsequently canceled by HSBC Bank plc. Prior to maturity, Tabreed had repurchased trust certificates worth USD 249.5 million, and the remaining USD 250.5 million has now been settled. The letter extends greetings and offers further contact for more information.
Tabreed, a company specializing in the development and supply of district cooling services, announced that it has secured new financing facilities worth 1.8 billion AED. This financing will support its strategic initiatives for growth and capital structure improvement. The funding, compliant with Islamic Shariah law, consists of two tranches in AED and USD, reflecting Tabreed's commitment to providing comprehensive financing solutions aligned with investor preferences. The financing includes a green finance component, with one billion AED allocated within a green financing framework, emphasizing sustainability and environmental preservation. This move will enable Tabreed to accelerate its expansion and enhance long-term value while maintaining strong financial practices. The financing was completed in partnership with Emirates NBD and Mashreq Bank.
Sean Magee, Secretary of the Board of Directors, announced on 28 October 2025 that Tabreed has secured a green loan facility valued at AED 1.8 billion. The financing, provided by Emirates NBD and Mashreq, makes up approximately 63% of the company's total capital. The loan has a six-year term and is structured as a dual-tranche facility in AED and USD, complying with Sharia principles. An equivalent of AED 1 billion is designated as the green tranche. The purpose of the loan is to support Tabreed's future operational needs and leverage potential growth opportunities.
Tabreed has appointed Arqaam Securities LLC as a liquidity provider for its shares on the Dubai Financial Market. This 12-month agreement aims to improve trading liquidity, enhance investor confidence, and benefit shareholders by introducing two-way quotes to the market. Arqaam Securities' share ownership will not exceed 5% of Tabreed's total outstanding shares. The initiative, which complies with regulations set by the Dubai Financial Market and the UAE Securities and Commodities Authority, is set to commence on 22 October 2025. Tabreed's CEO, Khalid Al Marzooqi, stated that the appointment aims to provide shareholders with greater flexibility and focus on sustainable, long-term value creation. Veselin Tilev from Arqaam expressed confidence that their services will enhance market depth and trading efficiency in the UAE.
Sean Magee, Secretary of the Board of Directors, announced that Tabreed has completed its one-year liquidity provision agreement with xCube on October 21, 2025. To continue enhancing the liquidity and active trading of Tabreed shares, a new 12-month agreement has been signed with Arqaam Securities, effective October 22, 2025. This move is part of Tabreed's ongoing efforts to support a dynamic and efficient market for its shares. For further information, interested parties are encouraged to reach out.
Tabreed has completed two major transactions, enhancing its growth and long-term earnings potential. The company acquired PAL Cooling, which is expected to increase its connected capacity by 13% with an additional 600,000 refrigeration tons (RT). This acquisition involves eight exclusive concessions on Abu Dhabi's main island and Al Reem Island. Tabreed also finalized a concession agreement with Dubai Holding Investments to provide district cooling services to Palm Jebel Ali, marking its expansion into a significant development in Dubai. These actions are part of Tabreed's strategy to expand its operational capacity, diversify its concession portfolio, and improve long-term cash flow visibility.
Sean Magee, Secretary of the Board of Directors, issued a notice on October 13, 2025, regarding the completion of the acquisition of PAL Cooling Holding LLC by a newly formed joint venture entity owned equally by Tabreed and Arctic Holding C.V. This follows a previous disclosure on June 30, 2025. The acquired company fully owns eight subsidiaries, operating five district cooling plants under long-term concession agreements, with additional plants under development in Abu Dhabi. The company commits to keeping the market informed with timely updates as the acquisition progresses. For further information, stakeholders are encouraged to reach out.

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News Update From National Central Cooling Co.

Disclosure: Financial statements for the 3rd QTR of 2023

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News Update From National Central Cooling Co.

Disclosure: Press release

Tabreed, a leading district cooling company, has completed a successful pilot project in partnership with HT Materials Science (HTMS), showcasing significant potential for energy efficiency gains. The pilot project involved the implementation of HTMS's heat transfer fluid technology, 'Maxwell', across Tabreed's 89 district cooling plants. The technology could increase efficiency by 9-15%, potentially preventing around 200,000 metric tons of GHG emissions annually. This would be equivalent to removing 43,500 cars from the roads each year. The project was trialled at a Tabreed district cooling plant in Abu Dhabi, and the results showed a 13.6% efficiency increase in the plant's chillers and an overall plant efficiency improvement of 9.0%.

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News Update From National Central Cooling Co.

Disclosure: Earnings Call

The National Central Cooling Company (Tabreed) has scheduled an earnings call for 15th November 2023 at 3.00pm. The call will discuss the financial results for the period ending on 30th September 2023. The information was addressed to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market.

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News Update From National Central Cooling Co.

Disclosure: BOD meeting

A letter dated 9th November 2023 was sent by Sean Magee, Company Secretary of the National Central Cooling Company (PJSC), to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market. The letter notifies that the Board of Directors of the National Central Cooling Company will hold a meeting at 11:00 am on 14th November 2023 to review the financial results for the third quarter ended 30th September 2023 and discuss company business, operations, and management. This notification is in compliance with Article 36/11 of the Disclosure and Transparency Regulations number (3) for the year 2000 (as amended).

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QueenOfCommunication

Commented on RealEstateKings Transaction regarding National Central Cooling Co.

Hey @RealEstateKing, saw your move on National Central Cooling Co. Interesting choice, considering your recent yield. Hoping you've done your research! Let's make more profit!
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ConsumerPrincess

Commented on RealEstateKings Transaction regarding National Central Cooling Co.

RealEstateKing, good move on National Central Cooling Co. Despite your recent dip, your portfolio shows resilience. Keep an eye on market trends. #InvestSmart
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News Update From National Central Cooling Co.

Disclosure: Results of Board Decisions by Passing

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News Update From National Central Cooling Co.

Disclosure: Board Decisions by Passing

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News Update From National Central Cooling Co.

Disclosure: Notice by the Company

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News Update From National Central Cooling Co.

Disclosure: The disclosure of a long-term concession agreement in India

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