Cayan names contractor for Dubai tower project
Shapoorji Pallonji International appointed for Cayan Cantara project, with construction works set to commence imminently
Cayan Group has appointed Shapoorji Pallonji International as the main contractor for a two-tower hotel apartment and residential project in Dubai.
Excavation works on the Cayan Cantara project have been completed and main construction works are set to commence this month, the developer said.
The residential and hotel apartment tower will include more than 700 units in the form of studios, apartments ranging from one-bedroom to three-bedrooms, and penthouses.
Cayan Group said it has also appointed Rotana Hotel Management as the operator for the hotel apartment tower, which will function under Rotana’s Arjaan brand, and be known as the Cayan Arjaan Hotel Apartments.
The project’s residential tower has had 60 percent of apartments sold to date, and will be managed by Rotana’s The Residences brand, Cayan said.
The announcements were made at a press conference attended by Ahmed Alhatti, Chairman of Cayan Group; Nasser Nowais, Chairman of Rotana; Omer Kaddouri, President & CEO of Rotana; Mohan Saini, MD and CEO of Shapoorji Pallonji International and Ziad Kanaan, Real Estate Director of Shuaa Capital.
“We are excited to partner with Cayan Group on yet another one of its iconic masterpieces. With Cayan Cantara Towers we are sure the project itself will marvel the visitors, and it is truly exciting to be a contributing partner in promoting quality, luxury, and an experience in Dubai,” said Nasser Nowais, Chairman of Rotana.
Mohan Saini of Shapoorji Pallonji International said: “Developing Cayan Cantara will be an exciting project, especially as we bring to life some of its architectural delights. We welcome the challenges involved in building this beautiful masterpiece without compromising on quality.”
Ziad Kanaan, Real-Estate Director of Shuaa Capital, said, “Cayan’s ability to regularly deliver high-quality, institutional grade real estate projects – be it residential or commercial – is a testament to their capabilities in this market place. Shuaa has also had a solid experience already working with Rotana, who are managing three of our own properties in Saudi Arabia. We look forward to leveraging this blend of expertise from the various partners to build out Cayan’s fund and deliver attractive returns to their investors.”
Ahmed Alhatti, Chairman of Cayan Group, said “It is a great feeling to work with such renowned brands in the hospitality and construction sectors. We want to showcase to our clients that at Cayan Group, the grandeur of our projects is more than just what meets the eye: we want to reassure both our existing and potential clients that their return on investment is our priority too.”
The Cayan Cantara project will also offer interested individuals the opportunity to invest in a rental pool which will be managed by Rotana at no extra charge.
