National Central Cooling Company (Tabreed), which counts Mubadala Investment Company among its shareholders, acquired Aldar Properties’ 50 per cent stake in a district cooling operator serving Abu Dhabi’s Reem Island.
Tabreed will own 100 per cent of S&T Cool District Cooling Company following completion of the transaction, which values the firm at Dh348 million, the company said in a statement to the Dubai Financial Market, where its shares are traded. The deal is subject to regulatory approvals, it said.
“The acquisition underscores our commitment to support and fulfill current and future infrastructure needs of large scale developments,” said Jasim Thabet, the chief executive of Tabreed. “This is also another milestone in our district cooling relationship with Aldar.”
S&T’s district cooling plant on Reem Island has a connected capacity of over 31,500 refrigeration tonnes and provides cooling developments such as Sun & Sky Towers, Gate Towers, The Arc and Shams Boutik mall. Tabreed expects the plant’s capacity to increase with further developments in the area.
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Read more:
[ Tabreed explores growth opportunities in markets beyond GCC ]
Mubadala sells 40 per cent stake in Tabreed
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This acquisition is consistent with Tabreed’s strategy of acquiring additional district cooling assets to add to its existing portfolio in the region. The Reem Island plant is the sixth plant in Tabreed’s portfolio providing district cooling to Aldar developments.
Tabreed’s key UAE cooling projects include the Sheikh Zayed Grand Mosque and Yas Island in Abu Dhabi, alongside the Dubai Metro and Dubai Parks and Resorts. Its international footprints include the Jabal Omar development in Makkah.
The company has more than Dh1 billion in cash and committed bank financing and plans to fund its growth ambitions through a combination on equity and bank lending, its chief financial officer Stephen Ridlington told The National in January.
FORSPOKEN
Developer: Luminous Productions
Publisher: Square Enix
Console: PC, PS5
Release date: January
Company of Heroes 3
Developer: Relic Entertainment
Publisher: SEGA
Console: PC, PS5, XSX
Release date: February
Star Wars Jedi: Survivor
Developer: Respawn Entertainment
Publisher: Electronic Arts
Console: PC, PS5, XSX
Release date: March
Suicide Squad: Kill the Justice League
Developer: Rocksteady Studios
Publisher: Warner Bros
Console: PC, PS5, XSX
Release date: May
Final Fantasy XVI
Developer: Square Enix
Publisher: Square Enix
Console: PS5
Release date: June
Street Fighter 6
Developer: Capcom
Publisher: Capcom
Console: PS5, XSX, PC
Release date: June
Diablo IV
Developer: Blizzard Entertainment
Publisher: Blizzard Entertainment
Console: PC, PS5, XSX
Release date: June
Baldur's Gate 3
Developer: Larian Studios
Publisher: Larian Studios
Console: PC
Release date: August
The Legend of Zelda: Tears of The Kingdom
Developer: Nintendo
Publisher: Nintendo
Console: Nintendo Switch
Release date: September
Marvel's Spider-Man 2
Developer: Insomniac Games
Publisher: PlayStation
Console: PS5
Release date: Fall
Assassin's Creed Mirage
Developer: Ubisoft
Publisher: Ubisoft
Console: PC, PS5, XSX, Amazon Luna
Release date: 2023
Starfield
Developer: Bethesda Game Studios
Publisher: Bethesda Softworks
Console: PC, Xbox
Release date: 2023
Company profile
Company name: Letswork
Started: 2018
Based: Dubai
Founders: Omar Almheiri, Hamza Khan
Sector: co-working spaces
Investment stage: $2.1 million in a seed round with investors including 500 Global, The Space, DTEC Ventures and other angel investors
Number of employees: about 20
COMPANY PROFILE
Name: PlanRadar
Started: 2013
Co-founders: Ibrahim Imam, Sander van de Rijdt, Constantin Köck, Clemens Hammerl, Domagoj Dolinsek
Based: Vienna, Austria
Sector: Construction and real estate
Current number of staff: 400+
Investment stage: Series B
Investors: Headline, Berliner Volksbank Ventures, aws Gründerfonds, Cavalry Ventures, Proptech1, Russmedia, GR Capital
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
'Ashkal'
Director: Youssef Chebbi
Stars: Fatma Oussaifi and Mohamed Houcine Grayaa
Rating: 4/5
UAE SQUAD
Jemma Eley, Maria Michailidou, Molly Fuller, Chloe Andrews (of Dubai College), Eliza Petricola, Holly Guerin, Yasmin Craig, Caitlin Gowdy (Dubai English Speaking College), Claire Janssen, Cristiana Morall (Jumeirah English Speaking School), Tessa Mies (Jebel Ali School), Mila Morgan (Cranleigh Abu Dhabi).
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
HEADLINE HERE
- I would recommend writing out the text in the body
- And then copy into this box
- It can be as long as you link
- But I recommend you use the bullet point function (see red square)
- Or try to keep the word count down
- Be wary of other embeds lengthy fact boxes could crash into
- That's about it
RACECARD
6pm: Abu Dhabi Land Forces - Maiden (TB) Dh82,500 (Dirt) 1,200m
6.35pm: Dubai Naval Forces - Maiden (TB) Dh82,500 (D) 1,400m
7.10pm: Sharjah Air Force - Maiden (TB) Dh82,500 (D) 1,200m
7.45pm: Ajman Presidential Guard - Handicap (TB) Dh95,000 (D) 1,200m
8.20pm: Dubai Creek Mile – Listed (TB) Dh132,500 (D) 1,600m
8.55pm: Umm Al Quwain and Ras Al Khaimah Joint Aviation - Rated Conditions (TB) Dh95,000 (D) 1,600m
9.30pm: Fujairah National Service and Reserve - Handicap (TB) Dh82,500 (D) 1,400m
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
