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: BOD meeting

The text is a notification addressed to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. It informs them of an upcoming Board of Directors meeting for the National Central Cooling Company (PJSC) scheduled for 3:00 PM on 19 November 2024. The meeting aims to discuss the business and operations of the company, in accordance with Article 36/11 of the Disclosure and Transparency Regulations. The notification is signed by Sean Magee, the Company Secretary.

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News Update From National Central Cooling Co.

Disclosure: Earnings Call

The National Central Cooling Company (Tabreed) will hold an earnings call on 15 November 2024 at 3:00 PM to discuss the financial results for the period ending 30 September 2024. This information was communicated by Sean Magee, the Company Secretary.

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News Update From National Central Cooling Co.

Disclosure: Board Decisions by Passing

The document is a notification 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, regarding a decision by the Board of Directors of the National Central Cooling Company PJSC. According to Article 36/11 of the Disclosure and Transparency Regulations, a Circular Resolution concerning the company's financial results for the third quarter ending on September 30, 2024, will be distributed at 1:00 pm on November 14, 2024. The notification is signed by Sean Magee, the Company Secretary.

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News Update From National Central Cooling Co.

Disclosure: Press release

Tabreed, a leading district cooling company, won two major awards at the 2024 Asian Power Awards in Singapore for its innovative projects in renewable geothermal energy and efficiency advancements. The company received the 'Geothermal Power Project of the Year – Gold' and 'District Cooling Initiative of the Year – UAE' awards. The awards recognize groundbreaking projects by power and energy companies addressing climate change and energy demand. Tabreed's 'G2COOL' Geothermal Project in Masdar City, Abu Dhabi, developed with ADNOC, uses geothermal energy for cooling, marking a first in the Gulf region and supporting the UAE's National Energy Strategy 2050. The project achieves higher electrical efficiency and reduces emissions. The District Cooling Initiative award acknowledges a pilot study with HT Materials Science in Abu Dhabi, using 'Maxwell' nanofluid technology to enhance heat transfer, improving cooling system efficiency by about 15%.

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News Update From National Central Cooling Co.

Disclosure: Press release

Tabreed, a leading district cooling company, has partnered with xCube to serve as the Liquidity Provider for its shares on the Dubai Financial Market (DFM). This collaboration aims to improve trading liquidity, enhance market efficiency, and boost investor confidence. xCube will facilitate trades by providing continuous liquidity and fair pricing, with its ownership of Tabreed shares not exceeding 5% of the total listed shares. The partnership aligns with Tabreed’s goals of increasing trading liquidity, price transparency, and investor participation. Tabreed recently reported strong financial results for the first half of 2024, with a 4% increase in normalized net profit before tax, driven by higher consumption volumes and business expansion.

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News Update From National Central Cooling Co.

Disclosure: Press release

Tabreed, a leading district cooling company, recently concluded its participation in the third World Utilities Congress held at the Abu Dhabi National Exhibition Centre. The event, which has become a significant gathering for global utilities companies since its inception in May 2022, attracted a record number of delegates, visitors, and industry leaders. Tabreed's senior management participated in various panel discussions and presentations, addressing issues such as sustainable cooling, policy and regulation, and carbon pricing. The company showcased its new geothermal plant and other innovations at its prominently located exhibition stand. CEO Khalid Al Marzooqi highlighted Tabreed's role as a major utility provider and its pride in being the Exclusive Cooling Partner for the event.

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News Update From National Central Cooling Co.

Disclosure: Clarification from the company

Sean Magee, Board Secretary, addressed a letter dated 18 September 2024 to H.E Dr. Maryam Buti Al Suwaidi, CEO of the Securities & Commodities Authority, and H.E Hamed Ali, CEO of the Dubai Financial Market. The letter clarifies recent media reports about statements attributed to Tabreed's CEO regarding future expansion into new markets. The company states that these quotes were inaccurate and that the CEO was speaking hypothetically about growth aspirations rather than concrete plans. Tabreed is focused on exploring promising investment opportunities to create long-term value for shareholders and operates in the UAE, four GCC countries, India, and Egypt. The company reaffirms its commitment to transparency and disclosure requirements and will disclose material information to the market once finalized. For further information, recipients are invited to contact the company.

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News Update From National Central Cooling Co.

Disclosure: Results of BOD Meeting

On 9 September 2024, the Board of Directors of the National Central Cooling Company (PJSC) held a meeting to discuss the company's business and operations. This meeting was conducted in accordance with Articles 36/7 and 36/11 of the Disclosure and Transparency Regulations number 3 of 2000, as amended. The notification 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 in Dubai. The letter was signed by Sean Magee, Board Secretary.

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News Update From National Central Cooling Co.

Disclosure: BOD meeting

The text is a formal notification 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 in Dubai. The letter, dated 4 September 2024, informs them of a scheduled Board of Directors meeting for the National Central Cooling Company (PJSC) to be held on 9 September 2024 at 9:00 AM. The meeting will discuss the company's business and operations. The notification references Article 36/11 of the Disclosure and Transparency Regulations number (3) for the year 2000, as amended. The letter is signed by Sean Magee, Company Secretary.

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News Update From National Central Cooling Co.

Disclosure: Press release

Tabreed, a leading district cooling company, has achieved the 'Verified Carbon Standard' at one of its Abu Dhabi plants, marking a significant step in decarbonizing the cooling sector. The certification, carried out by the independent agency Verra, followed a year-long review and confirmed the plant's high energy efficiency and substantial environmental benefits. The facility, which supplies a prominent commercial and tourist development, prevents approximately 19,320 tons of carbon emissions annually by reducing electricity consumption compared to conventional cooling systems. This certification allows Tabreed to trade carbon credits in the voluntary market, a first for any district cooling company. The success of this project enables Tabreed to apply the same energy-efficient methodology to other facilities, potentially generating additional revenue through carbon credit trading. This achievement follows Tabreed’s renewable energy initiatives, including a collaboration with ADNOC to create the region’s first geothermal-powered district cooling plant.

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