Abu Dhabi – Mubasher: Aldar Properties has acquired a 40% stake in Khidmah, a UAE-based integrated property services company, according to a company statement released on Wednesday.
The Abu Dhabi-based and -listed developer already holds 60% of the company’s shares and becomes the sole owner of it following the present deal.
The deal’s value was not revealed.
“Aldar has long been committed to the ongoing success of this business, and this acquisition reinforces that commitment to Khidmah, and most importantly to our valued real estate clients across the UAE and Saudi Arabia,” Aldar’s CEO Talal Al Dhiyebi commented.
Khidmah provides a variety of services across property management, facilities management, and consultancy.
“This acquisition by Aldar comes at a time when it has won a number of prestigious contracts, completed several handovers of residential developments, and has an enviable pipeline of opportunities which will continue on ensuring that customer satisfaction is our number one priority,” Khidmah’s chairman Jassem Saleh Busaibe said.
