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Tabreed looks at expansion in Egypt, Gulf

The company, which provides cooling systems to governments, commercial, residential and private organisations, is also looking at opportunities to expand in the UAE



The company is currently in exclusive talks to buy regional mall operater Majid Al Futtaim’s cooling operations. — File photo
The company is currently in exclusive talks to buy regional mall operater Majid Al Futtaim’s cooling operations. — File photo

By Reuters

Published: Tue 15 Feb 2022, 6:53 PM

Dubai-listed National Central Cooling Company PJSC (Tabreed) is considering an acquisition in Oman and expanding into Egyptian and other Gulf markets, its CEO Khalid Abdulla Al Marzooqi said in an interview with Al Arabiya TV on Tuesday.

Tabreed, which provides cooling systems to governments, commercial, residential and private organisations, is also looking at opportunities to expand in the UAE, Marzooqi said.

The company is currently in exclusive talks to buy regional mall operater Majid Al Futtaim’s cooling operations, two sources close to the matter told Reuters last week.

These regional expansion plans follow Tabreed’s recent moves into Asian markets.

In December last year, Tabreed officially partnered with the World Bank Group’s International Finance Corporation to expand its operations in India and establish a new holding company in Singapore. — Reuters


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