Qatar Cool, a company which provides chilled water for air conditioning, has denied claims it has hiked charges by nearly 200 percent at The Pearl, a $14bn seaside project in Doha.

Angry investors have accused Qatar Cool, which is 51% owned by UDC (United Development Company), master developer of The Pearl, of ramping up its air conditioning charges at the waterside mega-development.

But in a statement posted on its website, Qatar Cool denied it had put up charges and said it currently only enters into contracts with sub-developers.