Banking & Finance Aldar buys landscaping firm Basatin for $41m By Pramod Kumar May 30, 2023, 5:45 AM WAM Basatin has provided landscaping services for major clients in the UAE, including Expo 2020 Abu Dhabi-listed Aldar Properties has acquired Basatin Landscaping (Basatin) for AED150 million ($40.84 million) to expand Aldar Estates, its property and facilities management platform. The developer will hold a majority stake of 75 percent in Basatin, with the remaining 25 percent owned by a strategic partner. Basatin provides various landscaping services, including design, installation, paving, gardening and green waste disposal, Aldar said in a statement. The firm has over 1,000 employees and has provided landscaping services for major clients in the UAE, including the Department of Municipalities and Transport and Expo 2020. Aldar Estates’ platform has been expanding, supported by solid organic growth and several acquisitions over the last year. It offers a range of service providers, including property management company Provis, real estate services company Asteco, facilities management firm Khidmah, green building enabler Pactive Sustainable Solutions and security services provider Spark Security. Jassem Saleh Busaibe, CEO at Aldar Investment, said: “Our investment business continues to grow at pace and building scale across our Aldar Estates platform is an integral part of our strategic growth agenda.” The UAE’s landscaping market continues to grow strongly, benefiting from the construction of several megaprojects.
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