Aldar, National Catering Company form joint venture

Aldar Properties’ subsidiary Al Raha Gardens Property has formed a joint venture company with National Catering Company, it was announced on Tuesday.

Both shareholders will hold 50 percent of the equity share capital, Aldar said in a statement to the Abu Dhabi Securities Exchange.

The new company – Al Raha International Integrated Facilities Management – which manages services at Aldar’s labour camps in Mussafah and Yas Island, will help improve conditions for 56,000 workers, Areej Al Naqbi, director of business development and non core operations at Aldar Properties.

“Aldar’s joint venture with a long term partner specialised in delivering high standard comprehensive catering and facilities management services will ensure that we set the benchmark for the welfare of our significant workforce across the emirate,” he said.

The company already manages services for the workers currently building the Formula 1 track on Yas Island and the development at Al Raha Beach.

Joseph Kassis, CEO of the new joint venture firm, said: “Through the rapid success of our flagship facilities management projects we have been able to cement strong partnerships with clients, authorities and executives that will allow us to continue to offer quality services and cost effective solutions.”

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