Empower leads UAE district cooling industry with 38.6 % market share: Frost & Sullivan report

Empower leads UAE district cooling industry with 38.6 % market share: Frost & Sullivan report

Empower chief targets 70 % market share in two years

Dubai, UAE, 30th May, 2012: A report by Frost & Sullivan, a global research company, has confirmed Emirates Central Cooling System Corporation (Empower) as the undisputed leading in the UAE District Cooling (DC) industry as well as in the Gulf region.

The specialised report says that Empower holds 38.6% of the UAE DC market, placing the immediate competitor far behind at 29.3%, market share.

The latest Frost & Sullivan DC specialised report published in March 2012 was prepared after researching 14 major players in the industry in GCC countries. It reveals that the UAE generates more than 40% of the total revenue of GCC DC industry.

Ahmad Bin Shafar, CEO of Empower said: “The UAE’s leadership position in the Gulf district cooling industry is tribute to the governmental support provided by the local governments as well as the UAE government to boost the district cooling industry’s strengths in technology, network and calibre. We are delighted that our position has been endorsed by such a prestigious and neutral international report. We are targeting 70 percent market share in two years counting on the rapidly increasing development projects as well as the expansion of our operations.”

Bin Shafar added: “We worked hard over the past few years to achieve and sustain this leadership position. The recognition from Frost & Sullivan comes with no surprise to us as it is a direct result of our long term management, operations, financial and technology strategies.”

Empower has succeeded in building a world-class district cooling infrastructure that offers an ideal environment-friendly solution for residential and commercial units, offices and hotels in the UAE. District cooling systems are becoming an alternative to conventional AC systems for their significant role in saving the energy and conserving the environment.

Empower tops the list of companies providing district cooling services in the region. It adopts a clear strategy to preserve environment through aggressively disseminating this technology and conducting campaigns to highlight its strategic value in the short and long run to the people and the society in general.

The report says that major parts of the district cooling projects in the UAE come from the residential sector due to rapid expansion of residential apartments in the country.

“Empower works on adopting latest DC solutions and technologies. We always ensure that our end-users are provided with the best of energy-efficient and healthy cooling at their properties. In the GCC, the DC industry advancement is dependant on how to balance out between pricing strategy, capital investment, profitability, technology innovation and end-user awareness. Our success in the industry is because we look into all these factors in due diligence,” said Bin Shafar.

Empower serves a variety of real estate projects in Dubai, including Business Bay, Dubai International Financial Centre, Dubai Healthcare City, Jumeirah Beach Residence and City Of Arabia.