ALDAR ADDS LANDSCAPING SERVICES TO ITS GROWING PROPERTY AND FACILITIES MANAGEMENT PLATFORM THROUGH ACQUISTION OF BASATIN

• Basatin adds another key business line to Aldar Estates’ growing platform of integrated property and facilities management services.
  
• Strong growth potential in Abu Dhabi and beyond as Aldar Estates’ comprehensive service offering and reach expands.

Abu Dhabi, UAE – 29 May 2023: Aldar Properties (“Aldar”) has acquired Basatin Landscaping (Basatin) as part of its drive to further scale up and broaden its integrated property and facilities management platform, Aldar Estates. Through this transaction, which is valued at AED 150 million, Aldar will hold a majority stake of 75% in Basatin with the remaining 25% 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 company has over 1,000 employees and has provided landscaping services for key clients in the UAE, including the Department of Municipalities and Transport and Expo 2020. 

The transaction complements the services already provided through the Aldar Estates platform, which is 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. The addition of new complementary services to the platform is significant as we build out an offering that is becoming a one-stop shop for our clients. We will continue to explore opportunities to further expand Aldar Estates’ capabilities to better service Aldar’s own residential communities and assets under management, as well as the many customers that we serve across the region.”

The landscaping market in the UAE continues to experience strong growth, benefiting from the country’s positive demographic trends and construction of several ambitious megaprojects. This growth is expected to be sustained going forward with the UAE’s renewed focus on sustainability, urbanization efforts with a keen focus on green spaces, and strong demand in the real estate sector. These factors clearly demonstrate Basatin’s burgeoning opportunity set and growth potential as a leading provider of landscaping services with existing long-standing relationships, a full-scale all-encompassing offering and a proven track record of delivering value.