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.