Latest news with #EmiratesCentralCoolingSystemsCorporation
Zawya
24-02-2025
- Business
- Zawya
Empower, DMCC to supply next phase of Uptown Dubai with cooling services
Emirates Central Cooling Systems Corporation (Empower) has signed an agreement with DMCC (Dubai Multi Commodities Centre) to supply the next phase of Uptown Dubai with environmentally friendly district cooling services for a capacity of 24,675 refrigeration tonnes (RT). The agreement was signed at DMCC's headquarters in Uptown Tower in the presence of Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, and Ahmad bin Shafar, CEO of Empower. Uptown Dubai is a world-class smart district, innovatively designed to deliver a one-of-a-kind, mixed-use urban destination of eight planned mixed-use towers alongside a variety of retail, dining, luxury hospitality, and sustainable community options. Empower's JLT District Cooling project includes four plants (three of which are currently operational) with a designed total capacity of 152,000 RT, in addition to a comprehensive pipeline network serving the entire area. These plants are equipped with well-developed infrastructure and advanced smart production and operation systems, ensuring readiness to cater to any new project of any size or use. Bin Shafar said, "This partnership reflects our commitment to providing innovative and sustainable district cooling solutions that help reduce carbon emissions and support the UAE's national sustainability goals." He added that Empower is currently serving the first phase of the project, including the iconic Uptown Tower, with environmentally friendly district cooling services, delivering a cooling capacity of 3,850 RT in compliance with international standards. Bin Sulayem stated, "Uptown Dubai is rapidly taking shape as a world-class destination. Our partnership with Empower is a crucial step in this journey, ensuring the seamless delivery of sustainable cooling solutions that both support our vision for a smart urban community and enhance the quality of life for our residents and visitors."
Zawya
17-02-2025
- Business
- Zawya
Empower posts solid growth in 2024; revenue hits $898mln
Emirates Central Cooling Systems Corporation (Empower) has delivered solid performance for FY 2024 with a revenue of AED3.3 billion ($898 million), thus reflecting an impressive 7.4% year-on-year growth. Announcing its financial results for the 12-month period ended December 31, 2024, Empower said its profit before tax increased by 5.9% compared to 2023, reaching AED998 million for 2024. The company achieved a total net profit after tax of AED908 million last year. In 2024, Empower distributed cash dividends amounting to AED850 million in two equal installments of AED425 million each, disbursed in April and October, as part of its commitment of annual payout of AED850 million during the first two fiscal years following its listing on the Dubai Financial Market. Empower said it anticipates maintaining sustainable dividend payments in alignment with its business growth. The contracted capacity increased by 6.9% compared to 2023 and reached 1.78 million refrigeration tonnes (RT) after signing 111 contracts during the year. The total length of Empower's distribution pipeline network across various areas of Dubai has exceeded 418 kilometres, and the total number of district cooling plants reached 88. Empower CEO Ahmad bin Shafar said the company has successfully leveraged Dubai's vibrant economic landscape to achieve its strategic goals while capitalising on the significant growth in the real estate sector across residential and commercial, hospitality, and entertainment sectors. The number of buildings being served by us reached 1,637 in 2024, up 7.2% compared to 2023. Out of the total number of buildings served, 67% are residential ones, 14% commercial and office spaces, while 13% are in the hospitality and hotel sector, and 2% in the healthcare sector. Bin Shafar said the remaining 4% is distributed across the education, entertainment, and other sectors. According to him, Empower had approved 42,735 applications for No Objection Certificates (NOCs) in 2024, marking a 22% increase compared to the previous year. The NOCs enable building owners, consultants and contractors to execute their desired projects easily, avoiding violations, damages, and fines and saving time and effort. Empower pointed out that its customer base had surpassed 143,000, with district cooling consumption rising by 10% (in RTh) in 2024 compared to the previous year. Additionally, the bill payments processed through the digital payment channels of Empower and its strategic banking and financial partners totalled 888,860 transactions in 2024, reflecting a 10 percent increase compared to 2023, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
15-02-2025
- Business
- Trade Arabia
Empower posts solid growth in 2024; revenue hits $898m
Emirates Central Cooling Systems Corporation (Empower) has delivered solid performance for FY 2024 with a revenue of AED3.3 billion ($898 million), thus reflecting an impressive 7.4% year-on-year growth. Announcing its financial results for the 12-month period ended December 31, 2024, Empower said its profit before tax increased by 5.9% compared to 2023, reaching AED998 million for 2024. The company achieved a total net profit after tax of AED908 million last year. In 2024, Empower distributed cash dividends amounting to AED850 million in two equal installments of AED425 million each, disbursed in April and October, as part of its commitment of annual payout of AED850 million during the first two fiscal years following its listing on the Dubai Financial Market. Empower said it anticipates maintaining sustainable dividend payments in alignment with its business growth. The contracted capacity increased by 6.9% compared to 2023 and reached 1.78 million refrigeration tonnes (RT) after signing 111 contracts during the year. The total length of Empower's distribution pipeline network across various areas of Dubai has exceeded 418 kilometres, and the total number of district cooling plants reached 88. Empower CEO Ahmad bin Shafar said the company has successfully leveraged Dubai's vibrant economic landscape to achieve its strategic goals while capitalising on the significant growth in the real estate sector across residential and commercial, hospitality, and entertainment sectors. The number of buildings being served by us reached 1,637 in 2024, up 7.2% compared to 2023. Out of the total number of buildings served, 67% are residential ones, 14% commercial and office spaces, while 13% are in the hospitality and hotel sector, and 2% in the healthcare sector. Bin Shafar said the remaining 4% is distributed across the education, entertainment, and other sectors. According to him, Empower had approved 42,735 applications for No Objection Certificates (NOCs) in 2024, marking a 22% increase compared to the previous year. The NOCs enable building owners, consultants and contractors to execute their desired projects easily, avoiding violations, damages, and fines and saving time and effort. Empower pointed out that its customer base had surpassed 143,000, with district cooling consumption rising by 10% (in RTh) in 2024 compared to the previous year. Additionally, the bill payments processed through the digital payment channels of Empower and its strategic banking and financial partners totalled 888,860 transactions in 2024, reflecting a 10 percent increase compared to 2023, it added.
Gulf Today
15-02-2025
- Business
- Gulf Today
Empower reports Dhs3.3 billion in revenues in 2024
Emirates Central Cooling Systems Corporation (Empower) announced its financial results for the fiscal year 2024, recording a historic annual revenue of Dhs3.3 billion, reflecting an impressive 7.4 per cent YoY growth, and a net profit of Dhs908 million for the year 2024. The company's profit before tax increased by 5.9 per cent compared to 2023, reaching Dhs 998 million for 2024. Empower achieved a total net profit after tax of Dhs908 million for the year 2024. In 2024, Empower distributed cash dividends amounting to Dhs850 million in two equal installments of Dhs 425 million each, disbursed in April and October, as part of its commitment of annual payout of Dhs850 million during the first two fiscal years following its listing on the Dubai Financial Market. Empower anticipates maintaining sustainable dividend payments in alignment with its business growth. The contracted capacity increased by 6.9 per cent compared to 2023 and reached 1.78 million refrigeration tonnes (RT) after signing 111 contracts during the year. The total length of Empower's distribution pipeline network across various areas of Dubai has exceeded 418 kilometres, and the total number of district cooling plants reached 88. The number of buildings served by the company with its district cooling services reached 1,637 buildings in 2024, an increase of 7.2 percent compared to 2023. Out of the total number of buildings served, 67 per cent are residential buildings, 14 per cent are commercial buildings and office spaces, 13 per cent are in the hospitality and hotel sector, and 2 percent are in the healthcare sector. The remaining 4 per cent is distributed across the education, entertainment, and other sectors. Empower's customer base has surpassed 143,000, with district cooling consumption rising by 10 per cent (in RTh) in 2024 compared to the previous year. Additionally, the bill payments processed through the digital payment channels of Empower and its strategic banking and financial partners totalled 888,860 transactions in 2024, reflecting a 10 percent increase compared to 2023. Empower approved 42,735 applications for No Objection Certificates (NOCs) in 2024, marking a 22 per cent increase compared to the previous year. The NOCs enable building owners, consultants and contractors to execute their desired projects easily, avoiding violations, damages, and fines and saving time and effort. Ahmad bin Shafar, CEO of Empower, stated that the company has successfully leveraged Dubai's vibrant economic landscape to achieve its strategic goals while capitalising on the significant growth in the real estate sector across residential and commercial, hospitality, and entertainment sectors.
Zawya
14-02-2025
- Business
- Zawya
UAE: Empower reports $898.4mln in revenues in 2024
Emirates Central Cooling Systems Corporation (Empower) announced its financial results for the fiscal year 2024, recording a historic annual revenue of AED3.3 billion, reflecting an impressive 7.4 percent YoY growth, and a net profit of AED908 million for the year 2024. The company's profit before tax increased by 5.9 percent compared to 2023, reaching AED998 million for 2024. Empower achieved a total net profit after tax of AED908 million for the year 2024. In 2024, Empower distributed cash dividends amounting to AED850 million in two equal installments of AED425 million each, disbursed in April and October, as part of its commitment of annual payout of AED850 million during the first two fiscal years following its listing on the Dubai Financial Market. Empower anticipates maintaining sustainable dividend payments in alignment with its business growth. The contracted capacity increased by 6.9 percent compared to 2023 and reached 1.78 million refrigeration tonnes (RT) after signing 111 contracts during the year. The total length of Empower's distribution pipeline network across various areas of Dubai has exceeded 418 kilometres, and the total number of district cooling plants reached 88. The number of buildings served by the company with its district cooling services reached 1,637 buildings in 2024, an increase of 7.2 percent compared to 2023. Out of the total number of buildings served, 67 percent are residential buildings, 14 percent are commercial buildings and office spaces, 13 percent are in the hospitality and hotel sector, and 2 percent are in the healthcare sector. The remaining 4 percent is distributed across the education, entertainment, and other sectors. Empower's customer base has surpassed 143,000, with district cooling consumption rising by 10 percent (in RTh) in 2024 compared to the previous year. Additionally, the bill payments processed through the digital payment channels of Empower and its strategic banking and financial partners totalled 888,860 transactions in 2024, reflecting a 10 percent increase compared to 2023. Empower approved 42,735 applications for No Objection Certificates (NOCs) in 2024, marking a 22 percent increase compared to the previous year. The NOCs enable building owners, consultants and contractors to execute their desired projects easily, avoiding violations, damages, and fines and saving time and effort. Ahmad bin Shafar, CEO of Empower, stated that the company has successfully leveraged Dubai's vibrant economic landscape to achieve its strategic goals while capitalising on the significant growth in the real estate sector across residential and commercial, hospitality, and entertainment sectors.
