$50 million for district cooling finance

UAE-based Palm District Cooling (PDC) has secured a finance deal worth US $50 million (AED184 million) from Dubai Islamic Bank.

UAE-based Palm District Cooling (PDC) has secured a finance deal worth US $50 million (AED184 million) from Dubai Islamic Bank.

The three year finance facility is expected to see the Isithmar owned firm grow into the world’s largest district cooling company within the next five years.

This is the third corporate finance facility the firm has secured this year, previous deals from the First Gulf Bank and National Bank of Dubai being worth $75 million and $82 million respectively.

PDC is currently constructing district cooling plants and infrastructure for several developments including the Palm Jumeirah and Discovery Gardens.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020