Empower Meydan
The agreement was signed in the presence of Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive Officer of Emirates Airlines and Group, and Chairman of the Dubai Supreme Council of Energy, Emirates Central Cooling Systems Corporation (Empower), Mohammed Ibrahim Al Shaibani, Chairman of Meydan City Corporation, and Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority and Chairman of the Board of Directors of Empower Image Credit: Dubai Media Office/Twitter

Dubai: Dubai’s Empower has landed its second major district cooling deal, having been signed to provide services to Meydan, the racetrack and mixed-use development operator. The deal is valued at Dh100 million and entail 382,000 refrigeration tonnes (RT) of district cooling capacity.

Empower will invest more than Dh1.6 billion to build four district cooling plants and construct a pipeline network there. Empower had just last week acquired the district cooling capacities operated by Nakheel for Dh860 million.

"Empower's acquisition of the district cooling allows Meydan to enhance its efforts to continue developing the city to reach its main goal of completing the remaining urban, tourist, recreational and residential icons under construction," said Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA and Chairman of Empower.

There are 750 existing and upcoming buildings at the Meydan district, now emerging as one of the most popular investor spots in Dubai’s property market. These include the Meydan One and Meydan Avenue, as well as District 1. Plus, there are Meydan’s racecourse projects.

Ahmad Bin Shafar, CEO of Empower, said: “We are proud of the new strategic partnership established with Meydan – a well-known group with multi investments portfolios.”