Aldar Estates expands portfolio with FAB Properties acquisition 

Under the legal guidance of Group General Counsel at Aldar Properties Emma O’Brien (pictured), Aldar Estates, a prominent player in the real estate industry and a unit of Aldar Properties, has recently revealed its acquisition of FAB Properties, a reputable UAE-based provider of property management services.

This strategic move marks a significant expansion for Aldar Estates as it integrates a substantial property management portfolio comprising 22,000 residential units across 600 properties, further strengthening its presence in the UAE market. 

Established in 2011, FAB Properties has distinguished itself in the real estate sector by offering end-to-end solutions that encompass marketing, leasing, facility management, and financial reporting. The company currently manages approximately 22,000 units across 600 properties. It’s important to note that FAB Properties operates as a subsidiary of First Abu Dhabi Bank (FAB), a well-known financial institution. 

This acquisition closely follows Aldar Estates’ recent merger with Eltizam Asset Management Group, solidifying its position in the real estate landscape. With these strategic moves, Aldar Estates now oversees a comprehensive platform comprising 157,000 residential units under management, prime retail and commercial spaces, and an impressive total gross leasable area (GLA) exceeding 1 million square feet. Additionally, the company holds facilities management contracts valued at approximately AED2.5 billion. 

Pending regulatory approvals, this transaction is anticipated to bring a reliable stream of recurring income to Aldar Estates, driven by the robust occupancy rates within the FAB Properties portfolio and its strong financial performance throughout 2022. As part of the agreement, Aldar Estates will also gain access to a stable growth pipeline, cementing its status as the exclusive property management partner for properties financed by FAB.