June 22, 2024

Emirates Stallions Group joints Q Holding to create development project worth AED 320 million

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Emirates Stallions Group and Q Holding form AED 320 million Joint Venture Developments Project
Emirates Stallions Group and Q Holding form AED 320 million Joint Venture Developments Project

Emirates Stallions Group, the global investment, engineering, and construction services company, and Q Holding, the leading Abu Dhabi-based developer, announced today the launch of “Century Village,” a joint venture that will develop and manage the AED 320 million staff accommodation project on Abu Dhabi’s Al Reem Island.

The development involves the creation of a cutting-edge co-living community, underscoring ESG’s and Q Holding’s unwavering commitment to providing exceptional and holistic housing solutions for employees across a wide range of industries. This visionary project aims to address the diverse housing needs of employees in sectors such as healthcare, transportation, hospitality, and more.

Kayed Khorma, Chief Executive Officer, Emirates Stallions Group

“This transformative project showcases our unwavering commitment to revolutionizing workforce housing and providing exceptional living solutions for employees in diverse industries in the capital. With the creation of this joint ventuer we aim to meet the diverse housing needs of professionals in different sectors”, said Kayed Khorma, Chief Executive Officer, Emirates Stallions Group.

Century Village has recently appointed GBH International Contracting as the main contractor to construct the Reem Hills Staff Accommodation project while Royal

Development Company (RDC) was entrusted as the development management company for this significant project in the preceding year. Throughout the past 12 months, RDC has diligently accomplished all necessary groundwork, encompassing meticulous feasibility studies, comprehensive design development, meticulous construction planning, streamlined procurement procedures, and various other indispensable tasks, ensuring the project’s successful progression.

Majed Odeh, Group CEO, Q Holding

From his end Majed Odeh, Group CEO, Q Holding said: We are thrilled to announce the launch of Century Village, this groundbreaking joint venture will foster collaboration, convenience, and well-being, offering a dynamic and inclusive living environment.”

Nestled in the dynamic Al Reem Island, the Reem Hills Staff Accommodation project is thoughtfully designed to offer its residents a vibrant community lifestyle. With a diverse range of shared amenities and spaces, the project aims to cultivate a strong sense of community while providing additional benefits to its residents with exceptional amenities.

“This marks a significant milestone in ESG journey to redefine employee housing standards and create sustainable, holistic communities.” Khorma added.

Upon completion, the project will cater to approximately 5,000 staff, offering a convenient and environment. It also features a comprehensive range of community facilities, providing an all-inclusive community experience, the Reem Hills Staff Accommodation project redefines staff housing in Abu Dhabi, setting a new standard for quality, location, and employee well-being. Century Village’s commitment to fostering a thriving and comfortable community enhances the overall work-life experience for professionals across diverse industries.

Press release received on email

Read more on Holding companies:

Q Holding Acquires 100% Shares Of Reem Investments Company

National Bonds reveals acquisition of Taaleem Holding

Paragon Developments alliance with Adeer Holding establishing Paragon Saudi Arabia

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