Leads the sector in UAE and region according to a Frost & Sullivan report
Areport by Frost & Sullivan, a global research company, has confirmed Emirates Central Cooling System Corporation (Empower) as the leading entity in the UAE and in the Gulf region in the district cooling industry, holding 38.6% of the UAE district cooling market. Announcing this, Empower added that the report has placed its immediate competitor at 29.3% in market share.
According to the latest Frost & Sullivan DC specialised report published in March 2012, prepared after researching 14 major players in the industry in the GCC countries, the UAE generates more than 40% of the total revenue of the GCC DC industry.
The report revealed that a major part of the district cooling projects in the UAE come from the residential sector due to expansion of residential apartments in the country.
Ahmad Bin Shafar, CEO of Empower, said: “The UAE’s leadership position in the Gulf district cooling industry is tribute to the governmental support provided by the local governments as well as the UAE government to boost the district cooling industry’s strengths in technology, network and calibre. We are delighted that our position has been endorsed by such a prestigious and neutral international report. We are targeting 70% market share in two years, counting on the rapidly increasing development projects as well as the expansion of our operations.”
Empower claimed that it had succeeded in building a world-class district cooling infrastructure that offered an ideal environment-friendly solution for residential and commercial units, offices and hotels in the UAE. It highlighted that it served a variety of real estate projects in Dubai, including Business Bay, Dubai International Financial Centre, Dubai Healthcare City, Jumeirah Beach Residence and the City Of Arabia.
“In the GCC, the DC industry advancement is dependent on how to balance out between pricing strategy, capital investment, profitability, technology, innovation and end-user awareness. Our success in the industry is because we look into all these factors in due diligence,” Bin Shafar added.