Abu Dhabi-listed Aldar Properties has increased its ownership of Aldar Estates to 82.55% after acquiring a 17.45% indirect stake previously held by Modon Holding through its wholly owned unit Adnec Group.

The deal further consolidates Aldar’s control of Aldar Estates, which Aldar says is the region’s largest integrated real-estate services platform, managing more than 155,000 residential units and 2 million square metres of prime retail and commercial leasable space. Both figures have grown significantly in the past two years, the company added, with residential units up about 15% and leasable space doubling over the same period.

Aldar Estates reported revenue of AED2.6bn ($708m) and earnings before interest, tax, depreciation and amortisation of AED400m in 2024. The business holds over AED3bn in active contracts and forms a core part of Aldar Investment’s AED47bn portfolio of income-generating assets, Aldar said.

Aldar Estates has expanded through a string of acquisitions in recent years that broadened its capabilities across landscaping, security, technical services, sustainability consulting and community management. In late 2023, the business added significant scale with the acquisition of FAB Properties, substantially increasing its client base and service offering.