UAE-listed Emirates Stallions Group (ESG), a subsidiary of conglomerate International Holding Company (IHC) has secured a contract worth 46 million dirhams ($12.5 million) from the Abu Dhabi City Municipality.
The contract will see ESG’s landscaping arm, Gulf Dunes Landscaping & Agricultural Services, oversee the upkeep and landscaping of Corniche Road, an iconic thoroughfare that stretches from the UAE capital’s 7-star Emirates Palace hotel to Zayed Port.
Dubbed as one of the largest public municipality projects of its type in Abu Dhabi, the deal covers an area of 600,000 square meters and 250,000 square metres of soft and hard landscape, respectively.
“We are pleased to have been awarded such a large-scale public municipality project … We are also witnessing an acceleration within the landscape markets and our operations are primed for growth and diversification in the mid-term,” said Kayed Khorma, CEO of ESG, in a statement to the Abu Dhabi Securities Exchange (ADX).
ESG has presence in 20 markets in the region, with assets of 537 million dirhams as of the end of the first quarter this year. It has more than 3,000 workers on its payroll.
(Writing by Cleofe Maceda; editing by Daniel Luiz )
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