ABU DHABI — Aldar Properties, a prominent developer in Abu Dhabi, has announced its acquisition of a landscaping company in a deal valued at AED 150 million ($40.84 million). The transaction grants Aldar a majority 75% stake in Basatin, with the remaining 25% held by an undisclosed “strategic partner.”
Basatin, based in Abu Dhabi, specializes in landscape design, installation, paving, gardening, and green waste disposal. With a workforce of 1,000 employees, the company has served notable clients such as the Department of Municipalities and Transport and Expo 2020.
Aldar stated that this strategic move aligns with the services offered through its Aldar Estates platform, a significant operating segment under the Aldar Investment business. Over the past year, Aldar Estates has been expanding rapidly through organic growth and various acquisitions. This latest deal strengthens the capabilities of Aldar Estates, enabling the company to offer a comprehensive range of services to its expanding customer base.
The landscaping market is currently experiencing robust growth driven by demographic shifts and the construction of mega projects. Aldar emphasized that this growth is expected to continue, given the United Arab Emirates’ renewed emphasis on sustainability, urbanization efforts with a strong focus on green spaces, and the high demand in the real estate sector.
With this acquisition, Aldar Properties further solidifies its position as a leading developer in Abu Dhabi’s real estate market. The company remains committed to capitalizing on market opportunities and meeting the evolving needs of its customers in the ever-expanding landscape of the United Arab Emirates.
