The move will see Aldar Estates integrate a property management portfolio of 22,000 residential units across 600 properties within its platform
The merger adds considerable weight to Aldar Estates, taking its portfolio of residential units under management to approximately 135,000
Through this transaction, which is valued at Dhs150m, Aldar will hold a majority stake of 75 per cent in Basatin with the remaining 25 per cent held by a strategic partner
Aldar Estates now manages more than 32,000 units under property management and nearly 28,000 units under owners’ association management