Aldar will retain a majority stake within the mixed platform.
Aldar Estates had in current months been on a shopping for spree, having accomplished the acquisition of Basatin Landscaping Providers, which complemented the acquisitions made in 2022 of Spark Safety Providers, Mace Macro Technical Providers, Pactive Sustainable Options, and SAGA Worldwide Proprietor Affiliation Administration Providers.
The expanded platform will handle round 135,000 residential items, prime retail and industrial areas with a gross leasable space of greater than 1 million sq. metres, and present services administration contracts valued at about Dh2.5 billion.
Aldar Estates will ‘goal new strategic alternatives, solidifying its main place within the area’s property and facility administration trade’.
Based in 2009, Eltizam’s community extends to Saudi Arabia, Egypt, and Oman, other than the house market of the UAE. Eltizam’s portfolio of companies consists of Colliers, Kingfield, Encourage Built-in, 800TEK, OrionTEK, and PropEzy.