Dubai: UAE district cooling company Tabreed’s 2022 net profit is at Dh600.2 million, up 3 per cent year-on-year, as it made progress on growing its footprint beyond the UAE.

Tabreed has raised its 2022 dividend to 13.5 fils a share, ‘acknowledging growth of the business while retaining availability of capital for further expansion’, it said in a statement.

And this week, there was also the deal by which the Saudi wealth fund bought 30 per cent into Saudi Tabreed, with district cooling services rated as having high investment potential.