Alhatti ... strategic purchases.
$326m investment
01 February 2015
Cayan Group is targeting Riyadh and Dubai for expansion
CAYAN Group, one of the Middle East’s leading real estate developers, is developing Dh1.2-billion ($326 million) worth of mega property projects in Dubai (UAE) and Riyadh (Saudi Arabia) this year. It has already purchased strategically located prime lands in the two cities for the premier ventures.
In Riyadh, Cayan has acquired a prime commercial plot along King Fahad Road to build a state-of-the-art office building. The company has also acquired two plots of land on Umm Suqeim Road in Dubai for its planned upscale residential and hotel apartment towers. The project will cater to the increasing demand for residential properties in the area.
Ahmed Alhatti, president and chairman of Cayan Group, says: “The strategic land purchases as well as our upcoming landmark projects in Dubai and Riyadh form part of our comprehensive plans for 2015. Our 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 property 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. 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-Real Estate Investment and Development is a leading international real estate investment and development group supported by a 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 the 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 m high, has become one of the most important architectural landmarks in the Gulf region.
The group has won several awards, some of the recent ones being the Award for Innovation 2014, Louis Berger Building Project 2014 and Best Residential High-Rise 2014 for Cayan Tower; and Best Mixed-Use Development 2013 for Samaya.
