Aldar Properties acquires Spark Security Services, a leading UAE-based manned guarding security services provider, to scale up its property and integrated facilities management platform.
The transactions will be an all-cash 125 million AED deal which accounts for $34 million. The transaction will further strengthen Aldar Properties’ property and integrated facilities management platform to deliver a broader offering to customers. The platform’s offering ranges from sales, leasing, property management, consultancy services, valuation advisory, hard and soft real estate maintenance, and energy management.
“This acquisition marks a significant milestone for Spark Security as we look to take our business to the next level and broaden our customer base across the UAE and wider region. We are excited that Aldar, a long-standing partner, has made this investment to support our growth strategy, opening opportunities for us within its extensive portfolio of operating assets and supporting new business development. We look forward to being part of Aldar’s ambitious growth plans and contributing to the success of its integrated property and facilities management platform,” Al Anood Abdulla Al Mulla, Chief Executive Officer at Spark Security, stated.
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