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.
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