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Aldar Properties acquires security services provider for $34m

By Pramod Kumar
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Spark Security has provided security for a range of events, including Formula 1 Etihad Airways Abu Dhabi Grand Prix, the Papal visit to the UAE, Red Bull Air Race, Qasr Al Hosn Festival, and the Special Olympics World Games hosted by Abu Dhabi in 2019

Abu Dhabi-listed Aldar Properties has acquired Spark Security Services, a UAE-based security services provider, for AED 125 million ($34.03 million).

The all-cash transaction strengthens the UAE developer’s property and integrated facilities management platform, WAM, the UAE state news agency, reported.

These security services will add significant value to Aldar’s AED 23 billion ($6.3 billion) portfolio of prime property across retail, residential, commercial, and logistics segments, in addition to an expanding roster of third-party clients in the region.

Spark Security has provided security for a range of events, including Formula 1 Etihad Airways Abu Dhabi Grand Prix, the Papal visit to the UAE, Red Bull Air Race, Qasr Al Hosn Festival, and the Special Olympics World Games hosted by Abu Dhabi in 2019.

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