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It depends on many factors like
Load of the system
Type of the building
Commercial issues
Utility Sources
it depends on the load , it has high initial cost but its running cost is the lowest
The larger the load the better with central air conditioning economically, intial investment for central ac system will be high but the running and energy costs will be low if the designing is proper.
According to the heat load, the equipment selection can be made.Chilled water air conditioners are for large load conditions.The air from the chilled water A.H.U"s are more healthy than a DX coil.Running cost and life of chillers are more. Water cooled chillers are more efficient than an ai cooled Chiller.
according to load , space and sources