The share of Al-Dar Properties rose, during Monday's trading, after the acquisition of Basateen Company, which specializes in landscaping, for 150 million dirhams.
And by 10:50 am UAE time, Aldar Properties' share rose by 0.97 percent, to a price of 5.17 dirhams.
It recorded a trading volume of about 323.763 million shares, at a value of 1.676 million dirhams.
Aldar explained that this measure will expand the scope of services of the integrated Aldar real estate platform for asset and facilities management.
Aldar will own a majority stake of 75%, while a strategic partner will own the remaining 25% stake.
She pointed out that the orchards will constitute an important complement to the current portfolio of services provided by the Al-Dar platform for real estate, as it is a major operating sector belonging to Al-Dar Investment Company.
And she pointed out that the platform witnessed growth through strong organic growth and through acquisitions that it carried out last year.
It is noteworthy that Basateen provides a variety of landscaping services, including design, installation, paving, gardening and green waste disposal, through a team of more than 1,000 employees.
