Union Properties' ServeU acquires House Keeping in Dhs100m deal
The acquisition significantly strengthens ServeU's market position as one of the UAE's most trusted FM service providers. With a workforce exceeding 8,900 employees, ServeU manages a diverse portfolio that includes residential communities, commercial buildings, government facilities, and hospitality assets across the country. The company continues to invest in innovation, sustainability, and operational excellence to meet the evolving needs of its clients.
'This acquisition represents a pivotal step in advancing our long-term growth agenda,' said Eng. Amer Khansaheb, chief executive officer and board member of Union Properties. '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, currently the second-largest provider in its segment in the UAE, brings with it a strong client network, proven operational track record, and extensive sector expertise. The company's specialized workforce includes 136 active housekeeping professionals and approximately 8,700 domestic workers. In FY2024, House Keeping (LLC) reported revenues of Dhs221.1m and an EBITDA of Dhs21.4m—figures that align with ServeU's strategic focus on value creation, service quality, operational efficiency, and workforce development.
As part of the deal, House Keeping and its affiliated companies will continue to operate under their existing brand identities but will be fully owned and strategically directed by ServeU. The acquisition is expected to positively impact ServeU's financial performance starting August 2025, contributing an estimated 23 per cent to revenue and increasing EBITDA by 33 per cent. The integration will maintain operational continuity while leveraging ServeU's infrastructure, experienced leadership, and sector partnerships to unlock new growth opportunities.
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