Dubai Investments, a Dubai-listed investment holding conglomerate, has acquired an additional 50% stake in Emirates District Cooling (Emicool) from Union Properties for AED500mn, giving it full ownership of the utility company. Emircool, the Dubai Investment Park-based firm was established in 2003 as a joint venture with Union Properties, provides district cooling services to over 19,000 customers in the UAE. The company is planning to increase its capacity to 500,000 tons of refrigeration by 2020 due as demand for district cooling in the UAE and the region continue to grow.