Khidmah taken over entirely by Aldar
Abu Dhabi-based property developer buys out remaining 40% stake in the FM company
Aldar Properties today announced that it has acquired 40% of property services company Khidmah taking its total ownership to 100%.
The acquisition reinforces Aldar’s position in the property management sector .
A press statement said revealed that the 100% ownership of Khidmah will enable Aldar to better serve both direct and indirect customers through the integration of customer management between the developer and property/facility manager.
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Khidmah is involved in several sectors such from government and corporate to the FM consultancy.
Commenting on the acquisition, Talal Al Dhiyebi, chief executive officer, Aldar Properties said, "We are delighted to complete this acquisition and acquire the remaining 40% of Khidmah. Aldar has long been committed to the ongoing success of this business, and this acquisition reinforces that commitment to Khidmah, and most importantly to our valued real estate clients across the UAE and Saudi Arabia. From an Aldar perspective, customers have long viewed Khidmah as an extension of our brand and values, and this ensures that we now have complete control over that process."
Jassem Saleh Busaibe, chairman of Khidmah said, "Khidmah has won multiple awards for its integrated real estate solutions, and has a strong track record in dealing with government, corporate and retail customers across the UAE and Saudi Arabia.
"This acquisition by Aldar comes at a time when it has won a number of prestigious contracts, completed several handovers of residential developments, and has an enviable pipeline of opportunities which will continue on ensuring that customer satisfaction is our number one priority. We look forward to working even closer with our stakeholders."