Dubai-Mubasher: Dubai Investments' and Union Properties' (UP) stocks saw gains during Monday’s mid-session, backed by the positive news that one of their subsidiaries signed two new contracts.
Dubai Investments' stock rose 2.8% to AED 2.2 by 12:50am UAE time, while UP’s stock advanced 1.45% to AED 0.769.
Emirates District Cooling (Emicool), a subsidiary of Dubai Investments, announced on Sunday that it has been awarded a 25-year concession contract to provide district cooling service system for the “Akoya” project.
Emicool has awarded the engineering, procurement and construction (EPC) contract to Al Nasr Contracting for AED 50 million ($13.6 million) to design and build the pipeline network and valve chambers.
