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Friday, October 30, 2015

Empower adds Bluewaters Project to its Dubai portfolio with an investment of AED 125 million










Empower adds Bluewaters Project to its Dubai portfolio with an investment of AED 125 million

Developed by Meraas Holding, the project will incorporate a world-class distribution network

Dubai, UAE, 26 October 2015: Emirates Central Cooling Systems Corporation (Empower) has won a strategic contract with Bluewaters LLC, the subsidiary of the master developer Meraas Holding, to provide the Bluewaters flagship project in Dubai with 25,000 refrigeration tons (RT) of district cooling services. This significant project will be added to the portfolio of real estate developments Empower serves in Dubai.

The Master Developer Agreement was signed by HE Ahmad Bin Shafar, the CEO of Empower, and Mr. Abdulla Al Habbai, Group Chairman of Meraas Holding.

The contract, valued at AED 125 million, will kick off by end of this year, while the service will commence from the third quarter of 2016. The agreement covers residential, retail and commercial buildings and hotels in this ambitious project.

“We are steadily expanding to new projects and developments in Dubai,” said HE Ahmad Bin Shafar during the signing ceremony. “We are proud to be the first choice for pioneering developers in Dubai, which reflects the confidence of stakeholders and customers in our services and the optimal investment strategy we adopt in our operations.”

“We will support Bluewaters’ superior services with upscale district cooling operations. We have proven expertise in responding to the requirements of Dubai's leading and landmark projects, and coping with rapid expansion in the emirate. We always monitor emerging real estate facilities, to meet new and challenging requirements. We value the confidence Meraas Holding has in our services, and assure that we will deliver on schedule and along the highest international standards,” added Bin Shafar.

Facing Jumeirah Beach Residence, the estimated cost of Bluewaters Island is AED 6 billion (USD 1.6 billion). The project will feature the world’s largest Ferris Wheel that started to be built last June, as well as residential, retail, hospitality, teleferique and entertainment areas.

 “The Bluewaters’ district cooling infrastructure to be developed by Empower will follow environmentally friendly standards, to provide the best energy efficiency and water consumption levels. At a later stage, we plan to link it to our advanced measurement system. Selecting district cooling over traditional cooling methods is a long-term investment that saves the consumer maintenance costs and ensures service availability around the clock,” said Bin Shafar.

“Setting up a solid district cooling infrastructure is essential, especially with increasing client base from residential, and commercial projects as well as hotels,” concluded Bin Shafar.

Empower operates more than 1 Million Refrigeration Tons (RT), providing environmentally friendly district cooling services to large-scale real estate developments, such as Jumeirah Group, Business Bay, Jumeirah Beach Residence, Dubai International Financial Centre, Palm Jumeirah,  Jumeirah Lake Towers, Ibn Battuta Mall, Discovery Gardens, Dubai Healthcare City, Dubai World Trade Centre Residences and Dubai Design District, amongst others.

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