On January 22, 2018, Dubai Investment, the multi-investing company listed on the Dubai Financial Market, announced that it had acquired an additional 50% stake in Emirates District Cooling Company (Emicool), from Union Properties, for AED 500 million.[15] After this acquisition, Dubai Investments became the sole owner of EMICOOL. Union Properties under Nasser bin Butti invested nearly 200 million dirhams from the proceeds of the sale of Emicool in the Palm Hills project in Egypt [16] with a high-interest rate of 18% from African banks.[17] At the same time bin Butti, he placed 300 million dirhams in a vague investment fund company (The name is unknown to the public) in Switzerland while Nasser bin Butti did not have any explanation for the shareholders. Some of the documented sources named the company as"Bluestone Funds,"[18] but it was not able to confirm from an independent source.