Aldar expansion in UAE: acquisition of FAB Properties - Aldar expansion: acquisition of FAB Properties
Abu Dhabi's largest real estate developer Aldar Properties continues to expand its portfolio in the country by acquiring FAB Properties, a property management services provider.
Aldar Estates, an affiliate of Aldar Properties, is integrating a property management portfolio of 22,000 residential units across 600 properties into its expansive platform in the UAE. This acquisition will allow Aldar to increase the scale of its business and gain access to a broader customer base across the UAE. The deal is subject to regulatory approvals and is expected to bolster Aldar Estates' recurring revenue, thanks to FAB Properties' high residential occupancy rate and its strong financial performance in 2022.
Aldar Estates will also enjoy "stable" growth prospects as the exclusive property management partner for FAB-funded properties.
After the deal, Aldar Estates' residential management portfolio will reach 157,000 units.
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The deal is also in line with FAB Group's plans to leverage strategic partnerships and expand specialized services in the real estate sector. This will enable the company to improve the services offered and create new opportunities for growth.
The Abu Dhabi real estate market has recovered strongly from the COVID-19 pandemic due to government initiatives, rising oil prices and other measures to support the economy.
According to official data, 10,557 real estate transactions worth AED 46.33 billion were recorded in Abu Dhabi in the first half of 2023 due to strong demand from buyers. The volume of transactions increased by 41% year-on-year.
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We will find property in UAE (United Arab Emirates) for you
- 🔸 Reliable new buildings and ready-made apartments
- 🔸 Without commissions and intermediaries
- 🔸 Online display and remote transaction
International Real Estate Consultant
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