Aldar Properties, the International Holding Company, and the Abu Dhabi National Exhibitions Company (ADNEC) announce merging their real estate and facilities management businesses as part of the Aldar Properties platform, Invest-Gate reports.

Under this merging deal, ADNEC Group (a subsidiary of ADQ Holding) will become a strategic investor in Aldar Properties, with Aldar retaining a majority stake in the combined platform.

Aldar stated on July 4, 2023 that according to the agreement between the three companies, the Eltizam Asset Management Group, owned by Al Alamiah Group and ADNEC, will become part of the Aldar Properties platform.

 For his part, Head of investment of BHM Capital Talal Touqan, expresses that the merger of the operational business of real estate and facilities management in Abu Dhabi between the three companies will raise profit margins.

In an interview with “Al-Arabiya”, Toukan adds that this merger achieves functional integration at the level of services exchange, and there will be a greater opportunity for Aldar Properties to market-related services.

Hence, Toukan indicates that the International Holding and ADNEC benefited from focusing on operational matters related to other companies and activities.

It is noteworthy that Aldar Properties achieved rapid growth over the past year and has successfully expanded its range and service offerings through its two major property and facilities management companies, Provis and Khidmah.