Aldar Estates Expands Portfolio with Acquisition of FAB Properties in UAE

Abu Dhabi-based Aldar Estates, the leading integrated property and facilities management company in the region, has significantly expanded its operations by acquiring FAB Properties, a prominent UAE-based property management services provider. This strategic move adds a property management portfolio of 22,000 residential units, spanning 600 properties, to Aldar Estates’ growing platform in the United Arab Emirates (UAE).

Aldar Estates, the region’s largest property and facilities management company, strengthens its position with the acquisition of FAB Properties, adding 22,000 residential units to its portfolio. Explore how this move enhances Aldar Estates’ standing in the UAE real estate sector.

Strengthening the Portfolio: The acquisition of FAB Properties comes shortly after Aldar Estates’ merger with Eltizam Asset Management Group, bolstering the company’s already substantial portfolio. The combined platform will now oversee a total of 157,000 residential units, encompassing prime retail and commercial spaces across a gross leasable area (GLA) exceeding one million square feet. Additionally, the platform manages facilities management contracts valued at approximately AED 2.5 billion.

Anticipated Benefits: Pending regulatory approvals, this transaction is expected to provide a reliable stream of recurring income for Aldar Estates. This is attributed to the strong occupancy rates within FAB Properties’ portfolio and its robust financial performance in 2022. As part of the agreement, Aldar Estates secures a stable growth pipeline, serving as the exclusive property management partner for properties financed by FAB.

Leadership Perspective: Talal Al Dhiyebi, Group Chief Executive Officer of Aldar and Chairman of Aldar Estates commented on the acquisition, stating that it adds further scale to the company’s operations. He emphasized the diverse portfolio of properties under management and access to an expanded client base across the UAE, with potential for future growth.

Strategic Collaboration: Hana Al Rostamani, Group Chief Executive Officer of FAB, expressed satisfaction in collaborating with a market-leading real estate services provider. She highlighted the benefits this partnership would bring to clients, including enhanced property services and growth opportunities. The collaboration aims to deliver best-in-class, comprehensive services in the property sector.

Continued Growth: Aldar Estates, a subsidiary of Aldar Properties, will continue leveraging its scale, reach, and synergies across its expanded platform to drive strategic growth. The company maintains its focus on substantial investments in technology, sustainability, and talent acquisition to deliver superior services, enhance its offerings, and capture a larger market share across the region.

FAB Properties Overview: Established in 2011, FAB Properties specializes in end-to-end real estate solutions, encompassing marketing, leasing, facility management, and financial reporting. The company currently manages approximately 22,000 units distributed across 600 properties. FAB Properties operates as a subsidiary of First Abu Dhabi Bank (FAB), a prominent financial institution in the UAE.

Aldar Estates‘ acquisition of FAB Properties marks a significant step in its journey to becoming a dominant force in the UAE’s property and facilities management sector. The strategic expansion enhances its portfolio, client base, and growth potential, positioning the company as a leader in the region’s real estate industry.

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