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Abu Dhabi’s Aldar announces acquisition of Basatin – News

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AED150m deal will see realtors get 75% stake in landscaping firm


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Aldar headquarters in Abu Dhabi. — KT file

by WAM

published: Monday, May 29, 2023 at 2:21 pm

Aldar Properties has acquired Basatin Landscaping as part of its further expansion and expansion of its integrated property and facilities management platform, Aldar Estates.

Through the AED 150 million deal, Aldar will hold a 75% majority stake in Basatin, with the remaining 25% held by strategic partners.

Basatin is a provider of a wide range of landscaping services including design, installation, paving, gardening and green waste disposal.

The transaction complements services already provided through the Aldar Estates platform, a key operating unit of the Aldar Investment business. The platform has been expanding rapidly, backed by solid organic growth and a string of acquisitions in the last year.

The transaction significantly strengthens Aldar Estates’ capabilities, allowing it to provide a more comprehensive service to Aldar’s growing client base.

Aldar Estates brings together a range of service providers, including property management company Provis, real estate services company Asteco, facilities management company Khidmah, green building promoter Pactive Sustainable Solutions and security services provider Spark Security.

Jassem Saleh Busaibe, CEO of Aldar Investment, said: “Our investment business continues to grow rapidly and scaling on our Aldar Estates platform is an integral part of our strategic growth agenda. Adding new complementary services to the platform is important because We are building a product that is becoming a one-stop shop for our clients. We will continue to explore opportunities to further expand Aldar Estates’ capabilities to better serve Aldar’s residential communities and managed assets, as well as the many clients we serve in the region .”

The UAE landscaping market continues to grow strongly, benefiting from positive demographic trends in the country and the construction of several ambitious mega-projects.

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