Local developer breaks ground on project it announced in April
- Cayan Group breaks ground on Riyadh business centre
- Project funded in collaboration with the local Mefic Capital
Local developer Cayan Group has broken ground on its CMC business centre in Saudi Arabia.
The development is a business centre comprising a 10-floor office tower as well as a fitness centre and multi-purpose conference hall, located on King Fahd Road in Riyadh.
The project is being funded in collaboration with local investment firm Mefic Capital.
CMC was announced in April this year, when the group also revealed plans to develop Samaya, a 1 million-square-metre residential scheme located in the northwestern area of the capital. Cayan Group will develop all infrastructure and amenities including mosques, parks and retail space, and will allow buyers to purchase land for individual development.
In April, the group announced plans to develop AED3.1bn ($844m) of projects in Dubai and Riyadh.
Cayan Group was the developer for Cayan Tower, Silverene Towers, The Jewels and Dorrabay in Dubai Marina.
Stay informed with the latest in the Middle East
Download the MEED app today, available on Apple and Android devices
You might also like...
No extension for Dubai sewer tunnel prequalification
24 April 2024
Diriyah progresses Zallal Bujairi construction
24 April 2024
Kuwait announces oil project tenders worth $2.7bn
24 April 2024
Kuwait tenders gas export pipeline project
24 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
