As Dubai temperatures rise, Tabreed earns more
The Dubai Financial Market General Index (DFMGI) fell by 0.82 per cent to close at 5,074.43 points on Monday, April 28. While Emaar closed flat at AED11.00, its rivals Deyaar Development and Union Properties declined by 1.18 per cent and 2.31 per cent, respectively. District cooling provider National Central Cooling Company, also known as Tabreed, lost 0.42 per cent to reach AED2.36. Earlier in the day, Tabreed revealed in a filing to the market that its net profit attributable to the parent increased by 22 per cent to AED58.2 million ($15.87m). Core chilled water revenue increased by three per cent to AED208.2m ($56.77m).