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.
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