Works include the CMC Tower and the mixed-use Samaya development in Riyadh
Cayan Group has SAR5.5 billion ($1.47bn) worth of 2016 projects that are currently ongoing, the master developer revealed in a press statement.
They include the CMC (Cayan Mefic Centre) Tower in Riyadh, where the structural works were completed ahead of schedule in May 2016.
In addition, the group successfully launched its Samaya project, a high-end mixed-use development located in a prime area of Riyadh. In Dubai, the group launched the Cayan Arjaan Hotel Apartments in November, during which it revealed that the residential tower of the Cayan Cantara project would also be managed and operated by renowned hospitality brand Rotana under their ‘Residences’ badge.
“The general fluctuation in economic conditions in the Gulf region, and in particular in Saudi Arabia, has thrown some challenges our way too but these have not had a lasting or deep effect on our plans,” noted Ahmed Alhatti, chairman & president of the Cayan Group.
“A source of inspiration for us all has been Saudi’s Vision 2030. The government’s plans have provided a roadmap to guide our decisions and directions,” added Alhatti.
Cayan Group is also formulating a new strategy to retain, attract, and train the best workers in 2017 by investing in employee skill development, creating alliances with relevant institutions, and offering internships to recent graduates, the chairman indicated.