ServeU Acquires House Keeping in AED 100 Million Strategic Deal

06 Aug 2025 CW Team

Union Properties PJSC (“Union Properties” or “the Company”) (DFM: UPP), through its subsidiary ServeU, has announced the acquisition of House Keeping (LLC), House Keeping Domestic Workers (LLC), and their subsidiary in a transaction valued at AED 100 million.

The acquisition strengthens ServeU’s position as one of the UAE’s leading facilities management (FM) companies, enhancing its capacity to serve diverse sectors including residential, commercial, government and hospitality. With a workforce of over 8,900, ServeU is expanding its operational capabilities with a focus on innovation, sustainability and service excellence.

Eng. Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties PJSC, 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 category, adds a workforce of 136 housekeeping professionals and nearly 8,700 domestic workers. In FY2024, it recorded revenues of AED 221.1 million and an EBITDA of AED 21.4 million—figures that align closely with ServeU’s strategic priorities of enhancing value, service quality and workforce efficiency.

As per the deal, the acquired companies will retain their brand identity while operating under the full ownership and strategic direction of ServeU. Effective August 2025, the acquisition is expected to contribute approximately 23 per cent to ServeU’s revenue and increase EBITDA by 33 per cent. The model is designed to ensure operational continuity while leveraging ServeU’s infrastructure, leadership and industry alliances to unlock synergies.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..