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Dubai’s Empower plans to refinance up to $1.5bln

By Zawya

By Staff Writer

Emirates Central Cooling Systems (Empower) is looking to refinance existing financing facilities of up to AED 5.5 billion ($1.5 billion).

The company’s board of directors will pass a resolution by circulation no later than Friday, October 23, 2026 to approve the refinancing plan, the company said in a filing to the Dubai Financial Market (DFM) on Tuesday.

Empower is expected to expand its business on the back of strong demand, with the total number of buildings served projected to exceed 1,835 and individual and corporate customers forecast to reach 165,000 by the end of 2026.

Likewise, contracted cooling capacity is expected to reach around 2.08 million refrigeration tonnes (RT), the firm said in a statement.

(Writing by Cleofe Maceda; editing by Seban Scaria)

seban.scaria@lseg.com

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