District cooling provider expands capacity, signs 61 new contracts and surpasses 2 million refrigeration tonnes in contracted capacity
Dubai: Emirates Central Cooling Systems Corporation PJSC (Empower) reported strong financial results for the first half of 2026, with net profit after tax rising 16.2% year-on-year to AED468 million, supported by continued growth in Dubai’s real estate sector and increasing demand for district cooling services.
The company recorded revenue of AED1.519 billion during the first six months of the year, up 4.5% compared with the corresponding period of 2025.
EBITDA increased by 7.5% to AED773 million, while profit before tax reached AED514 million, also marking a 16.2% increase from the first half of last year.
Ahmad bin Shafar, CEO of Empower, said the results reflect the strength of the company’s business model and its ability to support Dubai’s rapid urban and economic growth.
“Empower’s record results during the first half of 2026 reflect the strength of our business model, the resilience of our operational infrastructure, and our ability to keep pace with the accelerated growth across Dubai’s key sectors,” he said.
He added that the company continues to contribute to the UAE’s sustainability and energy-efficiency goals through the development of advanced district cooling infrastructure.
Capacity expansion continues
During the first half of 2026, Empower signed 61 new contracts to provide 73,415 refrigeration tonnes (RT) of district cooling capacity to developments across Dubai.
As a result, the company’s total contracted capacity increased to 2.02 million RT, highlighting growing demand from developers and property owners for environmentally friendly cooling solutions.
Connected capacity also rose to 1.71 million RT after more than 51,000 RT was added during the period.
The number of buildings served by Empower increased to 1,796 by the end of June.
Revenue growth over 12 months
For the 12-month period from July 2025 to June 2026, Empower reported consolidated revenue of AED3.49 billion, up from AED3.36 billion in the preceding 12-month period, representing growth of 3.7%.
Dividend distribution
In March 2026, shareholders approved a cash dividend of AED437.5 million for the second half of 2025 during the company’s Annual General Meeting.
The dividend, equivalent to 4.375 fils per share, represented 43.75% of the company’s paid-up capital and was subsequently distributed according to the approved schedule.
New projects and facilities
The company continued to expand its infrastructure and customer services during the first half of the year.
Empower inaugurated its advanced Command Control Centre (CCC) at its new headquarters and opened a new Customer Happiness Centre in Al Jadaf, Dubai.
The company also awarded the design contract for its fifth district cooling plant in Business Bay, which will have a production capacity of up to 44,000 refrigeration tonnes.
The latest results underline Empower’s continued growth as Dubai’s district cooling market expands alongside ongoing development activity across the emirate.
Source: Emirates 24|7