UAE-based Tabreed has partnered with global infrastructure investor CVC DIF to acquire Bal Cooling for nearly $1 billion, marking one of the largest district cooling transactions in the region. Bal Cooling, which operates long-term concessions across high-growth real estate hubs in the UAE, will significantly boost Tabreed’s operational capacity and market share. This acquisition is aligned with Tabreed’s long-term strategy to capitalize on the region’s construction boom and rising demand for efficient, large-scale cooling infrastructure.

Tabreed’s move strengthens its positioning not just in the UAE, but across the GCC, where urbanization and sustainability goals are accelerating investments in energy-efficient infrastructure. Analysts see this as a strategic win that could spark further M&A activity in the region’s utilities sector.