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Empower achieves a net profit of AED 641 million in 2016

“The financial result of 2016 is a testament of Empower’s continued efforts in effectively managing and executing projects,” says H.E. Ahmad Bin Shafar, CEO of Empower.

| | Feb 26, 2017 | 12:48 pm
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Dubai, UAE: Emirates Central Cooling Systems Corporation (Empower) has recorded a net profit of AED 641 million for 2016, according to a press release issued by the company. Total revenues for the year, the press release said, reached AED 1.84 billion, indicating an 11% increase for the company year on year.

According to the press release, the financial results were revealed at a press conference held on February 19 by H.E. Ahmad Bin Shafar, CEO of Empower, who stated that Empower is targeting a similar growth during the current year, while stressing on the importance of the human capital.

“2016 marks another milestone for Empower. Inspired by the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we at Empower witnessed a steady growth in our business in 2016,” Bin Shafar said. “During the year 2016, Empower commenced its services to various iconic and prestigious developments such as – Jumeirah Al Naseem Hotel, IMG Worlds of Adventure, Damac Paramount Towers, Prospect Heights, etc. Empower also signed a Master Development Agreement with Nakheel to serve its Jumeirah Village South (JVS) development. This is a large-scale development that includes Jumeirah Village Triangle and Jumeirah Village Circle and will require a total capacity of 260,000 RT. Empower is currently working towards delivering the first phase of approximately 30,000 RT to JVS project which will commence its services during the year 2017.”

At the end of 2016, Empower said that it had more than 65,000 clients, it operates and maintains 69 District Cooling plants in various developments of the Emirate of Dubai. Furthermore, the company said that the number of buildings using its cooling services in 2016 increased to 920 in comparison to 810 in 2015.

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