Dr Yousif Al Hammadi Appointed CEO of Tabreed

Abu Dhabi, UAE: Tabreed has announced Dr Yousif Al Hammadi as the new Chief Executive Officer of National Central Cooling Company (Tabreed). The appointment, made on 11 September 2026, is the first time the group has chosen a CEO from within its own ranks.

Dr Al Hammadi has been serving as Interim CEO since January 2026. Having worked at Tabreed in various capacities, from projects, business development and asset management to senior management, he is well acquainted with the company he now runs.

A Leadership Career Built Within the Business

He has worked for Tabreed since 2014 and was appointed Chief Asset Management Officer in 2022. Throughout his tenure he has helped the company grow through major transactions and projects such as the acquisition of Downtown Dubai’s district cooling infrastructure, the PAL Cooling acquisition and the Palm Jebel Ali concession.

He previously worked for Mubadala, ADNOC and the Ministry of Interior, and has spent more than 20 years working in fields associated with strategic and infrastructure projects.

Appointing Al Hammadi gives Tabreed a leader who knows the company from the inside and also brings experience from other major UAE institutions. In its statement, Tabreed said the move is part of its commitment to developing national talent and helping it progress into senior leadership.

His priorities include increasing returns from the company’s current portfolio, benefiting from its strategic investments and taking a disciplined approach to new opportunities.

A Larger Operating Base

The new CEO takes over after a period of large-scale growth. Tabreed’s first-half 2026 numbers showed connected capacity of 1.58 million refrigeration tons, around 15% up on last year.

Revenue was up 2% year on year, and EBITDA reached AED 615 million, giving a margin of 55%. Net profit was AED 192 million.

Cash flow from operations rose 40% to AED 632 million. The company also reported a net debt to EBITDA ratio of 4.57 times at the end of the first half.

The numbers also show higher finance costs, driven by refinancing and by debt taken on for growth. This is where the new CEO’s job begins: delivering on operations while keeping a close eye on the finances.

Moving From Expansion to Value Creation

Tabreed’s recent growth includes the acquisition of PAL Cooling alongside CVC DIF, and the Palm Jebel Ali concession. The company has described these as the two largest strategic deals in its history.

In its 2025 growth commentary, Tabreed said these deals took its total site capacity to around 2.6 million refrigeration tons. Site capacity and connected capacity are different metrics, so the two should not be confused.

Acquisitions and concessions always open up room to grow, but their value takes time to show. It is up to management to link those investments to customer demand, use the assets well, keep operations running smoothly and manage the financing.

This is where Al Hammadi’s background in asset management comes into play. The next phase will focus on getting the most out of the infrastructure the company has acquired or built, while deciding how to grow further.

Why the Appointment Matters for Infrastructure Leadership

District cooling is a long-term business, and decisions taken at the top can have effects well beyond a single reporting period, especially when capacity is built before enough customers are connected.

Executives therefore have to deliver results today while keeping in mind what these assets will need for many years to come. That means keeping facilities maintained, meeting customer commitments and continuing to invest in the network.

Having a leader from inside the business helps, because he already knows its projects, ways of working and key relationships. But continuity only pays off when it comes with clear performance goals and a willingness to fix weak spots.

That is why this appointment matters. Tabreed wants someone who understands how it has expanded to lead the work of turning that expansion into lasting commercial returns.

Financial Discipline Will Remain Important

As the half-year figures show, investors are likely to watch the cash Tabreed generates as closely as its reported profit. Stronger operating cash flow this half is a useful sign, but the company still has to finance the projects it has taken on.

A bigger asset base can produce more income in future, but that growth has to be paid for and integrated, while the existing network keeps running properly. New investments should be judged against expected returns, funding costs and the needs of the current portfolio.

For customers, what matters is more immediate: reliable service, consistent delivery and confidence that the operator can meet long-term commitments. Financial strength and good service go hand in hand, because both depend on steady investment and sound management.

The Measures That Will Define His Tenure

Future reports will show whether the larger portfolio is delivering. The figures to watch include connected capacity, operating cash flow, financing costs, debt levels and the returns from recent investments.

Al Hammadi’s appointment gives Tabreed continuity at an important stage of its growth. The real test will be whether the company can keep up service quality, strengthen its finances and turn its expanded platform into lasting value for customers and shareholders.