Real Estate

The CMC project in Riyadh ... by Cayan.

The CMC project in Riyadh ... by Cayan.

Year of excellence

February 2017

Cayan Group, a Saudi-based property developer and real estate investment group, said it has achieved remarkable success in 2016 with the launch of SR5.5 billion ($1.46 billion) projects across the Middle East.

Cayan points out that 2016 was a ‘Year Of Excellence’ with the group achieving all its strategic business objectives and even surpassing some of its objectives.

Throughout the year, the group surged ahead with planned projects and made steady progress in both construction
and sales.

In Riyadh, the CMC Tower’s enabling and structural packages were completed ahead of schedule in May within three and six months respectively, said the Saudi developer.

In addition, the group successfully launched Samaya project, a high-end mixed-use development located in a primary area in Riyadh and the project is currently in the midst of the enabling stage.

In Dubai, the group launched the Cayan Arjaan Hotel Apartments in November, revealing that the residential tower of the Cayan Cantara project would also be managed and operated by renowned hospitality brand Rotana under its ‘Residences’ badge.

The sales of units in both the Samaya project in Riyadh and Cayan Cantara in Dubai have been remarkable with about 50 per cent already sold in each of the developments, thus leaving the group with a positive outlook for 2017.

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