Cayan Group breaks ground on Riyadh's office tower
The CMC Tower is one of three new projects worth a combined $843m that Cayan Group announced this year at a launch event in Dubai
Saudi-based real estate developer Cayan Group announced it has broken ground on a commercial project in Riyadh.
Formerly known as CM1, the CMC Tower project will be located on King Fahd Road in Riyadh.
A multi-use integrated complex, it will have facilities and services including luxury offices, swimming pool and high tech fitness centre in addition to a multipurpose hall and a restaurant.
The project has been undertaken in collaboration with Mefic Capital, Saudi Arabia based financial services company.
Following the completion of the construction, Cayan and MEFIC will move their headquarters to this tower.
CMC Tower is one of three new projects worth a combined $843m (AED3.1bn) that Cayan Group announced this year at a launch event in Dubai.
Cayan’s portfolio includes a number of projects such as the Silverene Towers, Cayan Cantara, The Jewels, Dorrabay, Cayan Tower and Cayan Business Center in the UAE; Layaly Compound, CMC and Samaya in Saudi Arabia; and Broumana Lands in Lebanon.