Abu Dhabi – Mubasher: Aldar Properties has acquired Basatin Landscaping at a value of AED 150 million to anchor its Aldar Estates platform, according to a press release.
Aldar will hold a 75% shareholding in Basatin, while the remaining 25% stake will be owned by a strategic partner.
The transaction aligns with the ADX-listed group’s objectives to further expand and enlarge its integrated property and facilities management platform.
Basatin provides a wide range of landscaping services, such as design, installation, paving, gardening, and green waste disposal.
Meanwhile, Aldar Estates gathers a number of service providers that include property management firm Provis, real estate services company Asteco, facilities management firm Khidmah, green building enabler Pactive Sustainable Solutions, and security services provider Spark Security.
Jassem Saleh Busaibe, CEO of Aldar Investment, said: “The addition of new complementary services to the platform is significant as we build out an offering that is becoming a one-stop shop for our clients.”
“We will continue to explore opportunities to further expand Aldar Estates’ capabilities to better service Aldar’s own residential communities and assets under management, as well as the many customers that we serve across the region,” Busaibe added.
During the first three months (3M) of 2023, Aldar recorded net profits attributable to the owners amounting to AED 725.65 million, higher than AED 667.91 million in the year-ago period.
