# Tabreed acquires 80% stake in Emaar's Downtown Dubai district cooling business for $675 million

Tabreed acquired an 80% stake in Emaar Properties' Downtown Dubai district cooling business for Dh2.48 billion ($675 million). Emaar retains the remaining 20% stake. The concession provides up to 235,000 RT of cooling capacity.

- Type: Acquisition
- Announced: 2020-04-06
- Where: Downtown Dubai, United Arab Emirates
- Value: $675.0M
- Status: announced
- Capacity: 235,000 RT cooling capacity
- Products: district cooling services
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Tabreed](https://endata.com/companies/30728.md) (acquirer)
- [Emaar Properties](https://endata.com/companies/46337.md) (target)

## Sources

- [khaleejtimes.com](https://www.khaleejtimes.com/business/corporate/emaar-sells-80-of-downtowns-district-cooling-scheme-to-tabreed-for-dh2-48-billion), 2020-04-06: "Emaar will retain the remaining 20 per cent stake as part of the long-term partnership with Tabreed."
- [thenationalnews.com](https://www.thenationalnews.com/business/tabreed-buys-80-stake-in-emaar-cooling-assets-and-looks-at-new-opportunities-1.1002156), 2020-04-06: "Our appetite remains for new transactions."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.