UAE - Mubasher: Nakheel Properties, the developer of Dubai's palm-shaped islands, is studying the sale of its district cooling assets amid the coronavirus (COVID-19) economic repercussions, three sources told Reuters.

Nakheel has appointed Synergy Consulting as its financial advisor to manage the transaction process, two of the sources referred.

The sources added that Nakheel's deal, which could be valued at around AED 1 billion ($272 million), attracted National Central Cooling Co (Tabreed) and Emirates Central Cooling Systems Company (Empower).

One of the sources added that a 30-year concession agreement would be structured for the company's district cooling assets, including 20 units across Dubai with a total capacity of 100,000 to 120,000 tonnes of refrigeration.