Tabreed gets AED 1.5bn bank facilitations

Dubai - Mubasher: The National Central Cooling Company (Tabreed) has received bank facilitations with a total value of AED 1.5 billion, according to the company’s CEO.

Jasim Thabet told Al Arabiya on Wednesday that the finances will be used to repay debts at a lower cost over five years.

The company reported earlier today a 9.9% year-on-year profit rise in the third quarter of 2018.

Tabreed’s profit reached AED 107.4 million ($29.25 million) in Q3-18, compared to AED 97.7 million ($26.60 million) in Q3-17.

During the first nine months of 2018, the firm’s profit rose 10% to AED 319.9 million, against AED 290.4 million in the year-ago period.

Mubasher Contribution Time: 14-Nov-2018 16:01 (GMT)
Mubasher Last Update Time: 14-Nov-2018 16:01 (GMT)