Cayan Group launches $844m in new projects
Famous for its twisted tower in Dubai Marina, the Saudi developer has launched new projects in the UAE and Riyadh
Cayan Group, the Saudi developer behind the iconic twisted tower in Dubai Marina, has launched three new projects worth AED3.1 billion ($844 million).
Cayan Group last month signed an agreement with Dubai investment firm Shuaa Capital to set up a real estate. The first project launched as part of this partnership will be Cayan Cantara (picture, top right), a branded residence and hotel apartment project located along Dubai's Umm Suqeim Road, which will include two towers and a hanging glass-walled swimming pool.
At an event in Dubai on Sunday, it also launched two projects in Riyadh. Samaya (scroll down) will be a one million square metre masterplan development in the north western area of the Saudi capital, while CM1 (right) will be a commercial building along King Fahed Road, which will also include some residential and retail elements.
“We are extremely pleased to launch our upcoming projects, Cayan Cantara in Dubai and CM1 and Samaya in Riyadh and look forward to strengthening our partnerships with Shuaa Capital. With the development of world-class residential and commercial projects in the Middle East, we aim to reaffirm our commitment to providing our clients with superlative office and housing options in preferred strategic locations in the two cities,” said Cayan Group president and chairman Ahmed Al Hatti.
Held in front of Cayan Tower, the group’s iconic twisted tower in Dubai Marina, the event grabbed international headlines with a stunt involving French ‘Spiderman’ Alain Robert climbed the tower in around 65 minutes.
“I am thrilled that I managed to complete this climb. As the building design was different, ascending this building was more challenging but nothing pleases me more than completing a challenge like the Cayan Tower,” Robert said.