Leading real estate developer Al Fattan Properties in Dubai has awarded Johnson Controls (NYSE: JCI), the global leader for smart, healthy and sustainable buildings, a 10-year Cooling as a Service (CaaS) agreement.
The milestone business deal marks the company’s first-its-kind projects in the UAE and the region. It includes all-around cooling infrastructure services to ensure the comfort of residents of Al Fattan Downtown Towers, Al Fattan Properties’ premier residential development in Dubai.
“In the Gulf region, energy consumed for cooling accounts for around 50%-60% of total building power consumption. CaaS can help substantially reduce a building’s cooling-associated carbon footprint by up to 30%, making it an environmentally friendly and sustainable solution,” said Mohammad Khalid, vice president and general manager of Middle East and Africa at Johnson Controls. “With the decarbonisation of buildings representing a critical step in fighting climate change, the launch of CaaS comes at an opportune time. Businesses can quickly transform their buildings into more efficient and sustainable assets without upfront capital costs and accelerate their net zero journey.”
CaaS is a hassle-free solution where customers and end-users only pay for the actual cooling consumption while benefiting from reduced operational costs, uninterrupted operations, service continuity and efficiency.
Soby Joseph, CEO at Al Fattan Properties, said: “As a leading organisation in creating spectacular landmark projects, we aim to bring our clients the best we can offer. This long-term partnership with Johnson Controls is a reflection of that commitment. The CaaS initiative will help ensure that the living space at Al Fattan Downtown Towers is comfortable and luxurious for all residents. They can be assured that we provide services that can be relied upon anytime.”
As well as equipment delivery and installation, Johnson Controls will also deliver comprehensive operations and maintenance services, upgrades and rapid repairs, efficiency enhancement, and direct end-user billing and collection.
Commenting on the partnership, Ruben Cherian, property manager at Al Fattan Properties, said: “We are impressed by the CaaS business model as it aims to preserve our assets in the long run and helps eliminate surprises and uncertainty and prevent deferred maintenance cycles. Johnson Controls’ CaaS is not only a risk-free and capital-free solution for us but also aligns well with our organisation’s commitment to environmental sustainability and climate action. From any perspective, the return on investment (ROI) is well worth the partnership.”
As well as for residential developments, CaaS is suitable for hotels, hospitals, retail malls, commercial offices, data centres, and more.