Union Properties Sells Stake in Emicool

by Forbes Middle East Forbes Middle East - Business News
Dubais Union Properties has sold its entire 50% stake in Emirates District Cooling (Emicool) to Dubai Investments for $136 million.
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Dubai-based Emicool provides district cooling services to more than 19,000 customers in the U.A.E., including in Dubai Investments Park, Dubai Motor City, Dubai Sports City, Uptown Mirdif, Palazzo Versace, Damac Hills and Mirdif Hills. Dubai Investments says the move strengthens its portfolio in utilities, while also growing its asset base. Emicool has carved a niche in the district cooling sector, and Dubai Investments acquisition will spur its growth and expansion plans amidst surging demand in the region, said Khalid Bin Kalban, Dubai Investments CEO.

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Created on Jan 24th 2018 00:50. Viewed 273 times.


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