Utilities Middle East
Tabreed H1 2022 revenues increase 12% to reach $265mn
Tabreed has also doubled the size of its concession capacity in Oman with the acquisition of the district cooling plant that services Al Mouj
Tabreed, the UAE based district cooling provider, last month released its consolidated financial results for the first six months of 2022, reporting a net profit of $65mn (AED 240.4mn) – an increase of 3% compared to its H1 2021 performance.
Starting the year as it means to go on, Tabreed practically doubled the size of its concession capacity in Oman with the acquisition of the district cooling plant that services Al Mouj, the Sultanate’s most prestigious new real estate development.
Tabreed’s portfolio in Oman now includes seven plants and Al Mouj represents the company’s biggest project there, evidence of its desire to drive further investment in this important territory.
Building on the expansion earlier in the year in the UAE, Bahrain and Oman, new connections were added in the emirates during the second quarter of 2022, increasing Tabreed’s total connected capacity to 1,241,331 Refrigeration Tons (RT).
Other notable developments during the first six months of
2022 were the company’s highprofile presence, participation and partnership with the inaugural World Utilities Congress at Abu Dhabi’s National Exhibition Centre and the commencement of operations in Egypt, heralding an exciting new phase for Tabreed as it enters markets and territories beyond its historical boundaries. “It has been six months of geographical expansion and making good on long-term objectives,” said Khaled Abdulla Al Qubaisi, Tabreed’s Chairman.