Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed an agreement with City Cool Company to own, build and operate two cooling stations to meet the cooling requirements of the residential and commercial buildings within Bay La Sun Village - the first and fully integrated residential community - in KAEC. Fahd Al-Rasheed, CEO and board member, Emaar.E.C, signed the contract with Ibrahim Al-Rajhi, chairman, City Cool Company, in Jeddah, recently. With an investment of SR650 million, the agreement covers the setting up of two cooling stations, managing the operations for 25 years, building all the cooling supply network and heating switch machines, and overseeing the billing system. Al-Rasheed said: “The first and fully integrated community in KAEC, Bay La Sun Village is setting new trends in adopting advanced construction standards. Emaar.E.C is bringing in the newest systems that complement the overall development plan of KAEC to be the region's first Smart City. Our contract with City Cool Company, which has proven competencies in developing and managing advanced cooling systems, reiterates our commitment to create modern lifestyles.” In response, Al-Rajhi said: “We are delighted to be awarded the district cooling contract to be implemented as a build-own-operate (BOO) system for the prestigious Bay La Sun development. With our technical expertise in providing district cooling solutions, we are confident that we can design and deliver a state-of-the art system to meet the requirements of this turnkey project, while ensuring that it has the best life-cycle value.” Eng. Akram Jawah, CEO, Engineering - Projects, Emaar.E.C, said: “Under the agreement, City Cool System will roll out one of the most advanced and environmental friendly cooling systems that will cut electricity consumption by up to 40 percent and reduce the load on the electricity network during the peak hours. Energy management is one of the priorities of modern buildings and the advanced cooling system to be employed at Bay la Sun Village highlights Emaar.E.C's commitment to sustainable development practices.” KAEC is the single largest private sector-led project in the region to be spread over 168 million sq m on the Red Sea coast, and has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Work is progressing according to schedule on the various zones that have been launched to overwhelming investor response. __
