Union Properties acquires FM giant in Dh100 mn deal

Staff Report

Dubai, UAE

Union Properties, through its subsidiary ServeU, a leading facilities management (FM) solutions provider in the UAE, has acquired House Keeping (LLC) and House Keeping Domestic Workers (LLC), including their subsidiary, in a deal valued at Dh100 million.

This move reinforces ServeU’s robust market position as one of the UAE’s most trusted FM service providers in the country. With a workforce of more than 8900 employees, the company manages a broad portfolio spanning residential communities, commercial complexes, government entities, and hospitality facilities. The company remains committed to advancing operational capabilities, with continued investments in innovation, sustainability, and service excellence to address the dynamic needs of the market.

Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties, said, “This acquisition represents a pivotal step in advancing our long-term growth agenda. Integrating a leading manpower and domestic workforce provider into our portfolio not only strengthens ServeU’s operational breadth, but also reinforces our commitment to delivering integrated, people-centric solutions that meet the evolving demands of our clients across sectors.”

House Keeping (LLC), the UAE’s second-largest provider in its segment, brings a strong portfolio, deep domain expertise, and an extensive client network. With a specialised workforce of 136 active members in housekeeping operations and nearly 8,700 domestic workers, House Keeping (LLC) has consistently delivered strong performance, recording revenues of Dh221.1 million and an EBITDA (earnings before interest, taxes, depreciation, and amortisation) of Dh21.4 million for the fiscal year 2024.

Under the terms of the acquisition, House Keeping (LLC) and its affiliated entities will retain their brand identities while operating under the full ownership and strategic oversight of ServeU. The alliance is projected to have a positive impact on ServeU’s financial results effective from August 2025, contributing around 23 percent to revenue and boosting EBITDA by 33 percent of ServeU. This model will further ensure seamless operational continuity while unlocking synergies through ServeU’s established infrastructure, experienced leadership, and industry partnerships.

Ends

Also read: Union Properties posts 59% profit growth to Dh161.8 mn in 2024

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