Abu Dhabi's Aldar eyeing district cooling buys, JVs

Aldar Properties, Abu Dhabi's largest developer, is studying acquisitions and joint ventures for sharing district cooling infrastructure as it seeks to reduce costs for customers, an executive said.

"It is one of the things we are looking at," Faisal Al Kamali, head of infrastructure at Aldar said at conference held by Middle East Economic Digest (Meed) on Monday.

"We are also looking at a partnership or joint venture," he added.

Kamali said Aldar would continue to work with district cooling firm National Central Cooling Co, known as Tabreed, which is being recapitalised, on the contracts it currently has with the firm.

"We are studying how to reduce costs for certain projects we don't want the customers to run away from us."

Kamali said its customers at its Raha Gardens project were being overcharged. He added one of the biggest challenges was scarcity of water.

"District cooling firms want to build a plant but when they build there is no water."