Emirates Stallions Group (ESG), part of the conglomerate International Holding Company (IHC), has secured a deal for the 8-billion-dirham ($2.17 billion) Reem Hills residential project on Abu Dhabi’s Reem Island. 

Under the contract, Abu Dhabi-listed ESG’s subsidiary Royal Development Company will manage the property project in its entirety, leading the overall planning to implementation process, including the design management and supervision of all contractors, according to a statement on the Abu Dhabi Securities Exchange (ADX). 

Reem Hills is Q Properties’ luxury development that will span 1.8 million square metres. It will feature villas, a private beach, man-made hill, islands, canal, retail and community facilities. 

ESG did not disclose the value of the project management contract. 

(Writing by Cleofe Maceda; editing by Seban Scaria)