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Cayan Group has announced that it is developing Dh1.2 billion worth of property projects in Dubai and Riyadh this year. The award-winning company, which has a rich portfolio of premium developments across Dubai’s skyline, has purchased strategically located land in the two cities for the ventures.
In Riyadh, Cayan Group acquired a prime commercial plot along King Fahed Road, where a state-of-the-art office building will soon come up. The company also bought two plots of land on Umm Suqeim Road for the location of its planned upscale residential and hotel apartment towers.
“The strategic land purchases as well as our upcoming landmark projects in Dubai and Riyadh form part of our comprehensive plans for 2015,” said Ahmed Alhatti, President and Chairman of Cayan Group.
Alhatti said his company’s new undertakings at the start of the year are fully aligned with the booming hospitality, residential and office sectors in both cities. “Similar to our previous real estate ventures in the region, our property developments will demonstrate excellence and craftsmanship that we are known for as we aim once again to set new benchmarks across regional and global industries,” he said.
“Furthermore, we hope to meet the rising demand from various sectors, especially from the residential segment, by offering prime properties that meet the highest international standards.”
Founded in 2004, Cayan Group is an international real estate investment and development company supported by an extensive network of offices in Saudi Arabia and the UAE. The company’s growing client base includes more than 2,000 customers from all over the world. Its portfolio encompasses a number of leading pioneering projects such as the Cayan Tower, Silverene Towers, The Jewels, Dorrabay and Cayan Business Centre in the UAE; Layaly Compound and Samaya in Saudi Arabia; and Broumana Lands in Lebanon.
The group’s prestigious real estate project, Cayan Tower, officially declared by the Guinness World Records in 2013 as the globe’s tallest twisted tower standing at 307 metres high, has become one of the most important architectural landmarks in the Gulf.
Source: Property Weekly