Real estate company Union Properties' subsidiary extends facilities management services through a Dh100 million contract
In a strategic move to expand its integrated facilities management services in the UAE, ServeU, a subsidiary of Union Properties PJSC, has acquired House Keeping LLC, House Keeping Domestic Workers LLC, and their subsidiary for Dh100 million. This acquisition is expected to significantly boost ServeU's financial performance, contributing approximately 23% to ServeU's top-line revenue and increasing EBITDA by 33%, effective from Q3 2025.
House Keeping LLC is the UAE’s second-largest provider of manpower and domestic workforce services, with 136 active housekeeping professionals and nearly 8,700 domestic workers. For FY2024, House Keeping LLC reported revenue of Dh221.1 million and EBITDA of Dh21.4 million. Under ServeU’s ownership, the acquired companies will retain their brand identities but operate under ServeU’s strategic direction.
The acquisition is a significant step in ServeU's growth strategy, aiming to strengthen its position as a leading integrated facilities management services provider in the UAE. Eng. Amer Khansaheb, CEO of Union Properties, stated that the acquisition represents a pivotal step in advancing ServeU's long-term growth agenda.
Union Properties has reported a 44% year-on-year increase in gross profit to Dh75.6 million for H1 2025. However, net profit for H1 2025 declined to Dh14.5 million, down from Dh34.7 million in H1 2024, due to upfront investments in infrastructure and development. Despite this, the company is expected to repay Dh130 million in bank debt in Q3 2025, following an initial Dh20 million repayment in the previous quarter. The repayment of this debt is not related to the acquisition of House Keeping LLC by ServeU.
In addition to the acquisition, Union Properties has secured a conditional Dh700 million sale agreement for a real estate asset in Motor City, expected to be booked in Q4 2025. This sale agreement is a separate transaction from the acquisition of House Keeping LLC by ServeU.
ServeU currently has a workforce of over 8,900 and operates across residential, commercial, hospitality, and government sectors. The integration of House Keeping LLC into ServeU is expected to unlock synergies via ServeU’s existing infrastructure, leadership team, and FM partnerships. The acquisition by ServeU is part of Union Properties' financial strategy to expand recurring revenue streams and scale operational efficiencies.
[1] Union Properties press release, dated 1st July 2025. [2] ServeU press release, dated 1st July 2025.
- The acquisition of House Keeping LLC by ServeU, along with its subsidiaries, will bring approximately 8,700 domestic workers and 136 housekeeping professionals into ServeU's workforce, significantly enhancing its presence in the UAE's real estate industry.
- House Keeping LLC, the second-largest provider of manpower and domestic workforce services in the UAE, reported Dh221.1 million in revenue and Dh21.4 million in EBITDA for FY2024, indicating a robust financial performance in the business and real-estate sectors.
- Union Properties' financial strategy aims to diversify its revenue streams by expanding operations in the facilities management industry, as indicated by the acquisition of House Keeping LLC by ServeU and the conditional Dh700 million sale agreement for a real estate asset in Motor City.
- The acquisition of House Keeping LLC by ServeU, a subsidiary of Union Properties, is part of a broader growth strategy, intending to enhance ServeU's position as a leading provider of integrated facilities management services in the UAE, facilitating future investing opportunities in the real-estate and finance industries.
