DUBAI, 28 January 2007 — Investment in the Middle East district cooling sector will range from $10-$30 billion over the next 10 years, according to an estimate by the US-headquartered International District Energy Association (IDEA).
The association also estimated that the rapid rate of Middle East construction will generate demand for cooling services of more than 10-20 million tons of refrigeration.
“The regional real estate sector, with more than $1 trillion in projects being planned or under construction, has adopted district cooling as a preferred technology necessitating the investment,” said IDEA President Rob Thornton while addressing the International District Cooling Conference at the Emirates Palace in Abu Dhabi.
“Development of the Middle East district cooling sector will outpace North America’s by a ratio of 2:1 and the region will maintain its world-leading position spurred by IDEA members,” he said.