Cayan Group, the Gulf-based real estate developer, has announced the launch of its Samaya project in north-western Riyadh, Saudi Arabia, having obtained the necessary permits.
Spread over 1 million sqm, the $266 million project is a residential destination that offers integrated services in Wadi Hanifah, one of the most popular spots in Riyadh.
Among the permits received by the group is an off-plan permit from the Ministry of Commerce and Industry.
“Samaya addresses market needs for high-end residential compounds that offer integrated services for the residents of Riyadh,” said Ahmed Alhatti, chairman of the Cayan Group. “Such prominent developments support the Saudi economy and drive property investment across the Kingdom.”
Construction work on the project is expected to commence soon, with comprehensive infrastructure services such as water and electricity likely to be made available soon.
The project will consist of residential and commercial units, schools, nurseries, mosques, sports clubs, parks and other entertainment facilities. Samaya will be designed by Consolidated Consultants Group, Cayan Group said.