Saudi's Cayan to launch $266m mixed-use project
Samaya is a strategic residential suburb that features a location contiguous to lavish residential compounds
Saudi based developer Cayan Group is set to launch its Samaya project in Erga, north western Riyadh.
Spread on 1 million sqm, the company said the $266m (SAR1bn) project is set to become the 'ultimate residential destination', offering integrated services in Wadi Hanifah, one of the most attractive spots in Riyadh.
Cayan Group has obtained all official permits required to proceed with the project, including the off-plan permit from the Ministry of Commerce and Industry.
The company added that off-plan residential land plots have been reserved for Cayan's VIP clients at this initial stage.
Ahmed Alhatti, chairman of Cayan Group, said: “Samaya addresses market needs for high-end residential compounds that offer integrated services for the residents of Riyadh.”
“Such prominent developments support the Saudi economy and drive property investment across the Kingdom,” he added.
Samaya is a strategic residential suburb that features a location contiguous to lavish residential compounds such as the Diplomatic Quarter, and boasts vital facilities designed to the highest engineering and urban planning standards.
Construction work will commence soon, offering comprehensive infrastructure services including water and electricity connections and other major facilities.
Samaya consists of residential and commercial units, schools, nurseries, mosques, sports clubs, parks, green spaces, water fountains, farms, pedestrian paths, jogging and cycling tracks, as well as many other entertainment facilities.
Designed by Consolidated Consultants Group, Samaya project received the Best Mixed Used Project Award for 2013 by International Property Awards Arabia.