Dubai’s Majid Al Futtaim hires HSBC for sale of district cooling unit – sources

DUBAI (Reuters) – Dubai’s Majid Al Futtaim (MAF), which develops shopping malls across the Middle East, is putting its district cooling unit up for sale, four sources with knowledge of the matter told Reuters.

FILE PHOTO: A man walks past a sign at the Majid Al Futtaim headquarters in Dubai during the Reuters Consumer and Retail Summit September 11, 2012. REUTERS/Jumana ElHeloueh/File Photo

District cooling firms deliver chilled water via insulated pipes to cool offices, industrial and residential buildings.

MAF has hired HSBC to tender the deal, said the sources, declining to be named as the matter is not public.

MAF, which also operates the Middle East franchise of French retailer Carrefour CARR.PA, in a statement on Tuesday said it continually assesses its business portfolio to ensure it remains “fit for purpose and positioned for long term sustainable growth.’

“Accordingly, we explore new opportunities on a regular basis, carrying

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Dubai’s Majid Al Futtaim hires HSBC for sale of district cooling unit-sources

By Hadeel Al Sayegh

DUBAI, Oct 13 (Reuters)Dubai’s Majid Al Futtaim (MAF), which develops shopping malls across the Middle East, is weighing the sale of its district cooling unit, four sources with knowledge of the matter told Reuters.

District cooling firms deliver chilled water via insulated pipes to cool offices, industrial and residential buildings.

MAF has hired HSBC to tender the deal, said the sources, declining to be named as the matter is not public.

MAF, which also operates the Middle East franchise of French retailer Carrefour CARR.PA, in a statement on Tuesday said it continually assesses its business portfolio to ensure they ‘remain fit for purpose and positioned for long term sustainable growth.’

“Accordingly, we explore new opportunities on a regular basis, carrying out thorough assessments before committing to any course of action. As always, we will communicate changes within our business if and when

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20% of US homes use 45% of cooling consumption nationwide

Twenty percent of Americans have HVAC systems that cost the homeowner an extra $882 annually on average to keep their homes cool — almost four times as much as the most efficient similar homes. This is according to a new study conducted by smart home energy company Sense who make smart home energy monitors.

But here’s the surprising finding: The 20% of homes with the highest cooling account for 45% of all cooling consumption nationwide.

Updating these inefficient homes could save 8% of US residential electricity usage overall and eliminate nearly 52 million tons of carbon dioxide emissions annually.

During the first US presidential debate, Vice President Joe Biden promised to upgrade 4 million buildings and weatherize 2 million homes over four years, creating 1 million new jobs and re-energizing the economy (see Biden’s plan here). Sense’s analysis of home energy data supports the potential impact of the plan on

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