ESG subsidiary awards Fibrex AED 790m Seamont main works on Al Reem

Royal Development Holding and SAAS Properties move Seamont Autograph Collection Residences into full-scale construction from October 2026, targeting December 2028.

28 September 2026

Royal Development Holding, a subsidiary of ESG Emirates Stallions Group PJSC, and SAAS Properties said on 28 September 2026 that they awarded Fibrex LLC the main works contract for Seamont Autograph Collection Residences on Al Reem Island, valued at AED 790 million. Full-scale construction is scheduled to start in October 2026 under a 27-month programme targeting completion in December 2028. ESG cited group total assets of AED 4.788 billion as of 30 June 2026.

• ESG Emirates Stallions Group PJSC’s subsidiary Royal Development Holding and SAAS Properties awarded Fibrex LLC the Seamont main works on 28 September 2026 at a value of AED 790 million.
• Seamont Autograph Collection Residences is a waterfront scheme on Al Reem Island, and full-scale construction is scheduled to start in October 2026.
• The Seamont programme runs 27 months and targets completion in December 2028, ESG’s disclosure said.
• Fibrex was described as a Tier 1 UAE contractor with more than five decades of experience and a workforce of over 17,000.
• ESG Emirates Stallions Group cited total assets of AED 4.788 billion as of 30 June 2026 in the same 28 September 2026 disclosure.

Abu Dhabi — Royal Development Holding, a boutique premium developer and subsidiary of ESG Emirates Stallions Group PJSC (ADX: ESG), said on 28 September 2026 that it and SAAS Properties have awarded Fibrex LLC the main works construction contract for Seamont Autograph Collection Residences on Al Reem Island.

The English disclosure values the appointment at AED 790 million. After enabling works, full-scale construction is scheduled to start in October 2026 under a 27-month programme targeting completion in December 2028.

Seamont is framed as a waterfront Autograph Collection residences scheme on Al Reem, with design references to the mangrove setting and Saadiyat Island’s cultural district. Fibrex, described as a Tier 1 UAE contractor with more than five decades of experience and a workforce of over 17,000, will execute the main construction package.

Royal Development Holding CEO Tariq Nazzal called the award a key delivery milestone. SAAS CEO Ahmed Bin Mohammed Al Qassimi and Fibrex Managing Director Sufyan Saleh also commented in the filing on quality, programme and execution.

ESG Emirates Stallions Group PJSC is an IHC subsidiary with interests spanning real estate and other diversified businesses; the group cited total assets of AED 4.788 billion as of 30 June 2026 in the same disclosure.