Property services management company Khidmah, which is 60 per cent owned by Aldar Properties, registered a 90 per cent profit increase to AED19m ($5.17m) in 2013. Revenues rose 22 per cent to AED156m.
The firm is making an effort to diversify away from only managing Aldars assets and in 2013 generated 78 per cent of its revenue through third party clients.
At the beginning of April, Khidmah signed a three-year, AED54m contract with the Abu Dhabi governments facilities management and shared services arm Musanada to provide total facility management services for 225 mosques in the emirates Western Region.
Musanada also hired Khidmah to manage 27 governmental buildings in Al-Ain. The three-year contract, which will start in May, has a value of AED 34m.
Mubadala is currently in the process of finalising a contract with Khidmah for the cleaning services of ten of their sites, in addition to cleaning, MEP, facade cleaning and waste management for the First Gulf Bank Arena in Zayed Sports City for a period of three years.
In total, Khidmahs facility management services portfolio currently includes ten Aldar communities, representing over 12,000 units, as well as a Hydra Properties villa community consisting of 450 units. The firms property management portfolio exceeds 6,600 units, of which 3,000 are Aldar-owned.