Emirates Stallions Group (ESG), and Q Holding, have announced the launch of “Century Village,” a joint venture to develop and manage a Dhs320 million staff accommodation project on Abu Dhabi’s Al Reem Island.
ESG is a global investment, engineering, and construction services unit of International Holding Company, while Q Holding is an Abu Dhabi-based developer. ESG’s portfolio includes projects in sectors such as property development, consultancy, design, project management, construction, infrastructure, marine works, landscaping and hospitality management.
Q Holding, which was formerly known as Al Qudra Holding, acquired a 100 per cent stake in Reem Investments in 2022.
Century Village staff accommodation project
The Reem Island staff accommodation project involves the creation of a co-living, multi-purpose community that aims to address the diverse housing needs of employees in sectors such as healthcare, transportation, and hospitality.
Upon completion, the project will be able to house 5,000 residents, who will have access to community facilities, and a holistic living environment, according to ESG.
Kayed Khorma, chief executive officer, Emirates Stallions Group, said, “This transformative project showcases our unwavering commitment to revolutionising workforce housing and providing exceptional living solutions for employees in diverse industries in the capital. With the creation of this joint venture, we aim to meet the housing needs of professionals in different sectors.”
As part of the Century Village mega-development plan, Royal Development Company, a subsidiary of ESG has been appointed as the development management firm while the contractor is GBH International Contracting. The project’s feasibility studies, comprehensive design development, construction planning, procurement procedures, are already underway, said ESG.
Majed Odeh, group CEO of 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.”
The staff accommodation project – with a range of shared amenities and spaces, aims to cultivate a strong sense of community while providing additional benefits to its residents.