Aldar fully acquires Spark Security for AED125 million

Aldar Properties has scaled up its property and integrated facilities management platform through the full acquisition of UAE-based Spark Security Services. 

The all-cash AED 125 million transaction further strengthens Aldar to deliver a broader offering to customers, ranging from sales, leasing, property management, consultancy services, valuation advisory, hard and soft real estate maintenance, and energy management.

Together, these services will add significant value to Aldar’s AED 23 billion ($ 6.3 billion) portfolio of prime property across retail, residential, commercial, and logistics segments, in addition to an expanding roster of notable third-party clients across the region. 

Commenting on the transaction, Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment, said: "There are strong synergies with our current operations, with Spark providing the security expertise across our fast-growing portfolio of real estate assets. We also see high potential to expand third-party client services as economic diversification gathers pace and the UAE hosts more major events."   

Al Anood Abdulla Al Mulla, Chief Executive Officer at Spark Security, added: "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."

The property and integrated facilities management platform is part of the Aldar Investment business division.