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Dubai-based developer Arada has acquired the NSW business of Australian building group Roberts Co just two months after the company's Victorian subsidiary was placed into administration.
Arada, which specialises in mixed-use projects and launched into the Australian market last year, plans to immediately inject $20 million into the company which was rocked by the voluntary administration just three years after the group took on five projects from the failed Probuild group, saving about 150 jobs.
The collapse of the Victorian arm didn’t affect Roberts Co’s business operations outside of the state, but the parent group had been funding losses in the division for some time before calling in the corporate doctors.
Roberts Co was founded in 2017 by Andrew Roberts the former CEO of building giant Multiplex, the family business established by his father. Roberts Co is a specialist in construction that tackles complex projects in the health, education, commercial, residential, hospitality, industrial, life sciences and defence sectors.
The acquisition by Arada is said to have secured the jobs of 120 direct employees while supporting a further 600 employees across 200 subcontractors and suppliers.
The UAE group has indicated it plans to invest up to $100 million to expand Roberts Co’s reach into new markets, starting with its home turf in the Emirates.
“This acquisition reflects our strong belief in Roberts Co’s people, projects, and performance,” says Ahmed Alkhoshaibi, the group CEO of Arada.
“We will now invest significantly into the company in order to bring it to new markets and sectors, starting with the UAE.
“Together, we bring a shared vision for high-quality, community-focused development and in a market where construction delays are a major concern for buyers, this move provides a clear advantage, offering greater assurance around quality, reliability and project completion.
“Just as importantly, the acquisition also guarantees the continued delivery of vital infrastructure like hospitals and schools – the kind of facilities that truly shape and support thriving communities.”
Arada says it plans to grow Roberts Co’s annual revenue to $1 billion by 2028 by leveraging the company’s tier-one construction expertise to grow its presence in global markets.
It also gives Arada exposure to new residential development opportunities in Australia where it is reported to have already established a development pipeline totalling $2.5 billion.
Roberts Co currently has four major construction projects under way in Sydney, several in the infrastructure space, all of which Arada says will remain uninterrupted by the acquisition.
The Roberts Co projects comprise Carlingford West Public School, the Cumberland High School, the Children’s Hospital at Westmead and the HOME Parramatta build-to-rent development.
“This is a pivotal moment for our business, as this agreement with Arada brings stability, renewed confidence and security for employees, clients and partners,” says George Kostas, the executive chairman of Roberts Co.
“Arada’s investment not only restores long-term confidence but gives us a platform for future growth across new sectors and geographies.
“For our clients and partners, it’s business as usual – we are redoubling our commitment to existing projects and look forward to the opportunities that lie ahead.”
Among the projects delivered by Roberts Co since 2017 are works at the Liverpool Hospital, Concord Hospital, the North Shore Health Hub, Zurich Tower and the Moxy Sydney Airport Hotel.
Roberts Co’s key leadership team will remain with the business following the transition. This includes Kostas, managing director Emma Shipley and NSW State director Damian Vella.
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