Empower tops UAE district cooling market
Dubai, May 30, 2012
Emirates Central Cooling System Corporation (Empower) holds 38.6 per cent of UAE’s district cooling (DC) market, placing the immediate competitor far behind at 29.3 per cent market share, a report said.
The latest Frost & Sullivan DC specialised report was prepared after researching 14 major players in the industry in GCC countries. It reveals that the UAE generates more than 40 per cent of the total revenue of GCC DC industry.
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 per cent market share in two years counting on the rapidly increasing development projects as well as the expansion of our operations.”
Bin Shafar added: “We worked hard over the past few years to achieve and sustain this leadership position. The recognition from Frost & Sullivan comes with no surprise to us as it is a direct result of our long term management, operations, financial and technology strategies.”
Major parts of the district cooling projects in the UAE come from the residential sector due to rapid expansion of residential apartments in the country, the report said.
“Empower works on adopting latest DC solutions and technologies. We always ensure that our end-users are provided with the best of energy-efficient and healthy cooling at their properties,” said Bin Shafar.
“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,” he added. – TradeArabia News Service