Wednesday, June 19, 2024

Aldar Properties acquires “Basateen” and expands its growing portfolio of services

Date:

Aldar Properties “Aldar” has announced the acquisition of landscaping specialist “Basateen” expanding the scope of services of “Aldar Properties” integrated property and facilities management platform.

Under the deal, valued at 150 million dirhams, Aldar will hold a 75% majority stake, while a strategic partner will hold the remaining 25%.

Basateen offers a wide variety of landscaping services including design, installation, paving, horticulture and green waste removal through a large team of over 1,000 employees. Among the most prestigious clients who have benefited from the services of “Basadeen” in the UAE are the “Municipalities and Department of Transport” in Abu Dhabi and Expo 2020 Dubai.

“Basateen” is an important complement to the existing set of services offered by the “Aldar Properties” platform, as it is the main operational sector of the company “Aldar Investments”.

The platform has grown exponentially over the past year through strong organic growth and acquisitions. The agreement adds significant momentum to Aldar Properties’ capabilities to provide broad and comprehensive services to Aldar’s growing client base.

Aldar Properties brings under its umbrella a group of specialized service providers, including Pravis Real Estate Management Company, Asteco Real Estate Services Company, Gidma Facilities Management Company, Paktif Sustainable Solutions Company and Spark Security Services Company.

Jassim Saleh Busaiba, CEO of Aldar Investment Company said: “Our investment portfolio is witnessing rapid expansion and growth, and our efforts to expand the portfolio of services of the ‘Aldar Properties’ platform are in line with our strategic plans for growth. The importance of this agreement stems from the fact that, along with the complementary services it will add to our platform, it will enhance the diversity of our services and solutions to provide a unified goal for all the services our customers need. platform. We continue to explore more promising growth opportunities to enhance Aldar Properties’ capabilities to better serve Aldar’s residential communities and the properties it manages. “

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The landscaping sector in the UAE is witnessing strong growth, benefiting from the country’s positive demographic trends with significant activity in the construction sector and ongoing work to develop a group of ambitious mega projects.

Forecasts point to the sector’s potential for growth in light of a number of encouraging factors including the UAE’s sustainability, the creation of urban communities, a particular focus on green spaces and increasing demand for real estate.

Together, these factors confirm the scale of opportunities and promising growth potential of “Pasadeen” as a leading provider of landscaping services, its close relationships with existing customers, its extensive service portfolio and its track record of delivering reliability. and high-quality services that add great value to its clients’ projects.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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