Aldar announces acquisition of Basatin

Aldar Properties has acquired Basatin Landscaping as part of its drive to further scale up and broaden its integrated property and facilities management platform, Aldar Estates.

Through this transaction, valued at Dhs150 million, Aldar will hold a majority stake of 75 per cent in Basatin, with the remaining 25 per cent held by a strategic partner.

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

The transaction complements the services already provided through the Aldar Estates platform, a key operating segment under the Aldar Investment business. The platform has been expanding rapidly, supported by solid organic growth and a number of acquisitions over the last year.

This transaction adds significant weight to the capabilities of Aldar Estates, enabling it to provide a more holistic range of services to Aldar’s growing customer base.

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

Commenting on the acquisition, Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment, said, “Our investment business continues to grow at pace and building scale across our Aldar Estates platform is an integral part of our strategic growth agenda.

WAM