25.3 C
Dubai
Sunday, February 25, 2024
spot_img

Emirates News Agency – Aldar announces acquisition of Basatin

[ad_1]

ABU DHABI, 29th May, 2023 (WAM) — Aldar Properties has acquired Basatin Landscaping, as part of further expansion and expansion of its integrated property and facilities management platform, Aldar Estates.

Through the deal, worth AED 150 million, 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.

Commenting on the acquisition, Jassem Saleh Busaibe, Chief Executive Officer 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 assets to the platform The complementary service is very important because we are building a product that is becoming a one-stop shop for customers.

We will continue to explore opportunities to further expand Aldar Estates’ capabilities to better serve Aldar’s residential communities and assets under management, 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.

lola ghoul

[ad_2]

Source link

Related Articles

Abu Dhabi-Backed RedBird IMI Secures $1.45 Billion Deal for UK’s All3Media

Abu Dhabi-Backed RedBird IMI Secures Powerhouse $1.45 Billion Deal for UK's All3Media RedBird IMI, spearheaded by Jeff Zucker, the former CNN executive, has clinched a...

GCC Nations Poised to Supercharge Region’s GDP by $2.5 Trillion in a Decade

GCC Countries Poised to Propel Region's GDP by $2.5 Trillion in the Next Decade A recent study has shed light on the potential for significant...

Dubai traffic flow ; RTA’s Road Closure Plan for Smooth UAE Tour 2024 Traffic

Dubai traffic, RTA Announces Road Closures for UAE Tour 2024As Dubai prepares to host the UAE Tour 2024, the RTA's proactive measures and timely...

UAE Hints at 6-Day Eid Al Fitr Break as Ramadan 2024 Dates Emerge

UAE as Likely Ramadan 2024 Dates Unveiled, Anticipated 6-Day Break for Eid Al Fitr The commencement of the holy month of Ramadan holds great significance,...

Ramadan Delight: Retailer Slashes Prices on 10,000 Items, Unleashes Dh5,000 Gift Cards for UAE Shoppers

Ramadan Joy: Retailer Slashes Prices on 10,000 Items, Unveils Dh5,000 Gift Cards, These essential products, comprising approximately 80 percent of the total offerings, span across...

Latest Articles