Dubai: The Dubai Government owned district cooling company Empower – the world’s biggest – is reaching out for further “success” after listing on Dubai Financial Market sometime this year.
Empower is “looking forward to more successes, particularly after Dubai Government’s announcement on the listing,” said Ahmad bin Shafar, CEO. “The listing is part of the Emirate's efforts to double the size of its capital market to Dh3 trillion.”
The company will join the likes of DEWA, Salik and Tecom in heading for an IPO. In its most recent contract, Empower has started supplying the district cooling to the Jumeirah Marsa Al Arab, for a combined 3,700 refrigeration tons (RT). This comes as part of the first phase under an agreement between Empower and Dubai Holding last year.
Jumeirah Marsa Al Arab is situated along the “longest private beachfront in Dubai”, with design influences suggesting a “futuristic superyacht”. It features 386 rooms, four penthouses, as well as 83 hotel-apartment suites. "Marsa Al Arab is set to provide a matchless tourism experience,” the CEO added. “It combines prestigious luxury residential and hotel buildings, distinctive commercial and leisure amenities, as well as an extensive package of diverse sporting, artistic and cultural facilities.”
Empower has been providing district cooling services for more than a decade to Jumeriah Group’s Emirates Towers Hotel, Burj Al Arab Hotel, Jumeirah Beach Hotel, Emirates Academy for Hospitality Management, and Madinat Jumeirah.
The district cooling giant has also been serving other major projects of Dubai Holding such as Business Bay, Jumeirah Beach Residence, Dubai Design District, Dubai Production City, Dubai Healthcare City, among others.