Tabreed, the Abu Dhabi-based district cooling utility company and world leader in the sector, has appointed Atef Mohamed Awadh AlBreiki as Chief Asset Management Officer, effective June 4, 2026. The promotion marks a significant step in consolidating the Emirati company's management structure as it pursues aggressive growth through acquisitions and organic capacity expansion in the Gulf region.
AlBreiki, who served as Executive Vice President of Operations and Maintenance, was elevated to the newly constituted executive position by Tabreed's Board of Directors. The appointment comes at a critical juncture for the company, which in the first half of 2026 reported revenue of $307 million and connected capacity growth of 15 percent year-over-year to 1.58 million Refrigeration Tonnes. Most significantly, the company completed its acquisition of Abu Dhabi's PAL Cooling alongside private equity firm CVC DIF, signaling an intensified portfolio-consolidation strategy. Dr Bakheet Al Katheeri, Tabreed's Chairman, commented that AlBreiki had demonstrated over eight years at the company an "exceptional and inspirational" track record across multiple senior roles and was "exceptionally well placed" to strengthen asset performance and maximize value creation while ensuring portfolio resilience.
AlBreiki brings more than two decades of progressive leadership in the UAE energy and infrastructure sectors. He holds a Master of Business Administration from London Business School and a bachelor's degree in Electronics Engineering Technology. He has also attended executive development programmes at Wharton University and Singularity University in Silicon Valley. In his most recent role, he led the development and execution of operational excellence initiatives and operations and maintenance strategies that generated significant revenue impact and contributed to Tabreed's competitive positioning. His appointment reflects the company's emphasis on internal promotion and grooming of leadership talent.
Tabreed, incorporated in 1998 and headquartered in Abu Dhabi, operates district cooling networks across the United Arab Emirates, Saudi Arabia, Egypt, Oman, Bahrain, and India. The company supplies chilled water to landmark developments including Burj Khalifa, Dubai Mall, Ferrari World Abu Dhabi, and the Louvre Abu Dhabi. Ownership is split among Mubadala (41.9 percent), ENGIE (40 percent), and public investors (18.1 percent combined). In 2025, the company reported full-year revenue of $673 million and net profit of $127 million, with EBITDA of $346 million and an EBITDA margin of 51.6 percent.
The creation of a dedicated Chief Asset Management Officer role signals Tabreed's strategic pivot toward portfolio optimization at a time when acquisitions are expected to drive meaningful near-term growth. With the PAL Cooling integration underway and organic capacity expansion continuing, the company appears to be positioning this role to coordinate value extraction across a more complex and diversified asset base. AlBreiki's long operational experience suggests the company prioritizes internal continuity over external recruitment, which may indicate confidence in execution capability but could also constrain fresh strategic perspectives as the company pursues more acquisitive growth.
