Abu Dhabi’s Aldar acquires Spark Security Services

Aldar Properties (Aldar) has enhanced its property and integrated facility management platform with the full acquisition of Spark Security Services, a UAE-based provider of manned security services.

Founded in 1974, Spark Security employs over 5,000 security professionals serving major organizations operating in a wide range of sectors including infrastructure, banking, healthcare and hospitality services. In addition, the company provides security for a range of high-profile events, including the Formula 1 Etihad Airways Abu Dhabi Grand Prix, the Pope’s visit to the UAE, the Red Bull Air Race, the Qasr Al Hosn Festival and the Special Olympics World Conference 2019 is hosted by Abu Dhabi.

AED 125 million all-cash transaction further strengthens Aldar’s property and integrated facility management platform, offering clients a wider range of products including sales, leasing, property management, advisory services, valuation advisory, soft and hard real estate Maintenance and energy management. Together, these services will add significant value to Aldar’s AED23 billion (S$6.3 billion) portfolio of prime properties across retail, residential, commercial and logistics, in addition to a growing list of high-profile third-party clients in the region.

The property and integrated facility management platform is part of Aldar Investment’s business unit, which brings together a range of service providers, including facility management company Khidmah and property management companies Provis and Asteco.

Jassem Saleh Busaibe, CEO of Aldar Investment, said: “Building scale and capability in our property and integrated facility management platform is an integral part of Aldar’s strategic transformation plan and we are delighted to add Spark Security to our highly specialized service offering There are strong synergies with our current business, Spark provides security expertise to our rapidly growing portfolio of real estate assets. We are also seeing expansion as the pace of economic diversification gathers pace and the UAE hosts more major events Huge potential for third-party customer service.”

Al Anood Abdulla Al Mulla, CEO of Spark Security, added: “This acquisition marks an important milestone for Spark Security as we look to take our business to the next level and expand our presence in the UAE and the wider region. customer base. We are delighted that Aldar has made this investment as a long-term partner to support our growth strategy, open up opportunities for us across its broad portfolio of operating assets, and support new business developments. We look forward to becoming Aldar’s ambitious part of its growth plan and contribute to the success of its integrated property and facilities management platform.”

In other news, Aldar Proeprties announced the launch of Yas Park Gate, a gated community next to Yas Park, a family and leisure activity park in Abu Dhabi. As part of Phase 2 of North Yas, the AED 1.15 billion residential development will complement the existing community and provide 508 new dwellings spanning over 255,000 square metres.

read: Aldar launches newest gated community Yas Park Gate next to Yas Park