Royal Development Holding (RDH), a subsidiary of Emirates Stallions Group, has signed a collaboration agreement with Radisson Hotel Group to develop Radisson Residences Reem Island.

The project is valued at 1.2 billion UAE dirhams ($326.75 million) and will meet the lifestyle needs of young professionals and small families, the developer said in a statement to the Abu Dhabi Securities Exchange (ADX) on Monday.

The development has direct access to Reem Central Park and strengthens its growing portfolio of hospitality-branded residential communities.

The announcement follows RDH’s launch of Seamont Autograph Collection Residences, the first Autograph Collection-branded development in Abu Dhabi.

Radisson Residences Reem Island is scheduled for official launch very soon, with details to be announced in due course, the developer said.

RDH manages more than 60 projects across more than 15 countries.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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