Page 41 - UP PR REPORT - AUGUST 2025

8/7/25, 9:42 AM Union Properties unit expands facilities management services with Dh100m deal
The acquisition marks a major step in ServeU’s growth strategy, strengthening its position as a leading integrated facilities management
services provider in the UAE. With a workforce of over 8,900 employees, ServeU manages a broad portfolio across residential,
commercial, hospitality, and government sectors.

House Keeping LLC, the UAE’s second-largest provider of manpower and domestic workforce services, brings a specialised team of 136
active housekeeping professionals and nearly 8,700 domestic workers. The company reported Dh221.1 million in revenue and Dh21.4
million in EBITDA for FY2024.

Under the terms of the deal, House Keeping LLC and its affiliated entities will retain their brand identities while operating under
ServeU’s full ownership and strategic direction. The acquisition is expected to contribute approximately 23% to ServeU’s top-line
revenue and boost EBITDA by 33%, effective from Q3 2025.

“This acquisition represents a pivotal step in advancing our long-term growth agenda,” said Eng. Amer Khansaheb, CEO of Union
Properties. “Integrating a leading manpower and domestic workforce provider not only strengthens ServeU’s operational breadth but
reinforces our commitment to delivering integrated, people-centric solutions across sectors.”

Also Read:
Dubai developer Union Properties to repay Dh130m bank debt in Q3-2025

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Broader transformation
Union Properties has been undergoing a broader transformation, with the company reporting a 44% year-on-year increase in gross profit
to Dh75.6 million for H1 2025. However, net profit for the same period declined to Dh14.5 million, down from Dh34.7 million in H1
2024, due to upfront investments in infrastructure and development.

As part of its financial strategy, Union Properties confirmed plans to repay Dh130 million in bank debt in Q3 2025, following an initial
Dh20 million repayment in the previous quarter. The company also secured a conditional Dh700 million sale agreement for a real estate
asset in Motor City, expected to be booked in Q4 2025.

ServeU’s acquisition is in line with Union Properties’ push to expand recurring revenue streams and scale operational efficiencies. The
integration is expected to unlock synergies via ServeU’s existing infrastructure, leadership team, and FM partnerships.

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