Cayan Group, the Saudi Arabian property developer, has announced plans to develop a mega-project at the Obhur waterfront in Jeddah.
Built on an area of 140,000 square meters, the SR1.2 billion project will be made up of two towers. The first, a 5-star hotel, while the second will feature branded residences.
Ahmed Alhatti, Chairman of Cayan Group, said “Saudi Arabia is Cayan Group’s home ground. We have wanted to expand our brand in the market, but more importantly, we have wanted to extend our support and fulfill our commitment towards the local economy and be part in pushing the economic wheel and nourishing Saudi’s real estate sector with quality projects & iconic designs.”
“On an operational level, the expansion of our brand to Jeddah will increase our brand awareness, and market share in Saudi Arabia. We believe the construction of this new project on the Obhur waterfront in Jeddah will integrate well into the beautiful natural scenery of the city, and the burgeoning economic development,” he added.
The architectural contract for the project was signed with Nikken Sekkei.