Nakheel eyes district cooling assets sale
Reuters/Dubai Filed on March 15, 2021
Nakheel’s district cooling assets include 20 units around Dubai with a total capacity of 100,000 to 120,000 tonnes of refrigeration. File photo
The developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process
Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters, as real estate companies in the UAE sell assets amid the coronavirus downturn.
Nakheel, the developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process, said two of the sources who declined to be named as the matter was not public.
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DUBAI, March 15 (Reuters) - Dubai state developer Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters, as real estate companies in the United Arab Emirates offload non-core activities amid the coronavirus downturn.
Nakheel, the developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process, said two of the sources who declined to be named as the matter was not public.
Nakheel declined to comment and Synergy did not respond to a request for comment.
District cooling firms deliver chilled water through insulated pipes to offices, as well as industrial and residential buildings.
DUBAI: Dubai state developer Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters.
Nakheel, the developer of the emirate’s palm-shaped islands, has hired financial advisory Synergy Consulting to manage the process, said two of the sources who declined to be named as the matter was not public.
Nakheel declined to comment and Synergy did not respond to a request for comment.
Dubai-listed National Central Cooling Co. (Tabreed) and Emirates Central Cooling Systems Corp. (Empower) have expressed interest in Nakheel’s deal, the sources said.
Tabreed said in a statement, that as a listed company it cannot comment on market rumors or speculation. Empower did not immediately respond to requests for comment.
DUBAI Dubai state developer Nakheel is considering the sale of its district cooling assets, three sources familiar with the matter told Reuters, as real…
Sunburn â The morning read of whatâs hot in Florida politics â 3.15.21
Here s your AM rundown of people, politics and policy in the Sunshine State.
Imagine youâre in the Super Bowl, and you break free after recovering a fumble for an easy touchdown run. Youâre inches from the goal line and start celebrating a bit too early when a speedy wide receiver slaps the ball from your hand, causing another fumble and denying what should have been an easy score.
You know, like
Don
Thereâs an analogy in here for Gov.
Ron
DeSantisâ continued COVID-19 response. Despite some early fumbles, Florida has fared comparatively well and, despite all of the partisan hating against him, heâs been right plenty of times.