Dubai – Mubasher: The loan size of National Central Cooling Company (Tabreed) reached around AED 7 billion, which will be repaid as planned, the Chief Financial Officer (CFO) of Tabreed, Adel Salem Al Wahedi, said during an interview with CNBC Arabia.
Al Wahedi expected the company will witness an increase in its profits in the upcoming year.
Tabreed's CFO further remarked that the company is considering expansion opportunities in the UAE, the Gulf region, and other promising markets, as part of its objective to increase its projects.
He added that the coronavirus (COVID-19) pandemic has a minor impact on the company.
It is noteworthy to mention that on Wednesday, 23 December, Aldar Properties has entered into an agreement to sell its two district cooling assets on Abu Dhabi’s Saadiyat Island to Tabreed in exchange for AED 963 million.
