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Cayan Assigns 2 new contractors for its 2Bn SR Lamar Project

Cayan Investment and Development - one of the region's leading real estate developers - has announced its agreements with 2 new contractors in the construction for the iconic Lamar Towers project in Jeddah, Kingdom of Saudi Arabia.

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June 22, 2009 12:00 by



Cayan Assigns 2 new contractors for its 2Bn SR Lamar Project

 

 

Cayan Investment and Development – one of the region’s leading real estate developers – has announced its agreements with 2 new contractors in the construction for the iconic Lamar Towers project in Jeddah, Kingdom of Saudi Arabia.

 

Arabtec won the contract for the construction of the Lamar project. Arabtec is one of the largest and oldest companies in the fields of contracting and infrastructure in the Gulf since its establishment in 1975, and has a long track record of successful projects such as, Burj Dubai project, which is the world's tallest tower in Dubai and the Infinity tower in Dubai, winner of several awards and several other projects under the supervision of the distinct Arabtec.

The second appointment was with the Saudi Drake & Scull, as the contractors for electro-mechanical works and is worth more than 500 million Saudi riyals. Drake & Scull are considered one of the most important companies providing integrated services in the field of mechanical and electrical engineering, health and others. Since its founding, it provided its customers with many of the innovative solutions to be a leading provider of integrated services.

The Lamar project is witnessing major developments and the main contractor, Arabtec, has been granted a 36 months contract for completion. The actual foundation on the site is almost complete.

 

Mr. Bader Al Zahrani, Chairman of Zahran Real Estate, said: “We are excited to be a part of this innovative and exciting new phase in the tower’s construction. We are proud to award the main contract for this unique development to a world-class company like Arabtec LLC and MEP contract to Drake & Scull. Awarding these contracts is part of our commitment to work with leading companies in order to achieve the best results and to ensure top quality delivery.”

 

Mr. Ahmed Alhatti, Chairman of Cayan Investment and Development, said: “It is a pleasure to work closely with Arabtec, who have been associated with Cayan for several projects in Dubai. Appointing these leading companies such as Arabtec and Drake & Scull reflect our resolve to offer credibility and transparency to our customers and construct a one-of-its-kind development in Jeddah.”

 

Details on the construction of Lamar Towers – the first-of-its-kind tower on the Jeddah Corniche – were showcased during the Cityscape exhibition, held earlier this week in Jeddah.

 

Lamar Towers project is spread across 33,000 square meters which includes two residential towers, the first tower is 68 stories & the second is 60 stories which will offer spectacular views of the Red Sea. The project has also a 10 stories offices building, luxury malls, sports club, and a world class spa dedicated only to the residential units owners.  The development will also include an eight-level parking building.

 

- ENDS -

 

About Cayan Investment & Development

Cayan is a regional player with presence in Dubai, Riyadh, Jeddah and Cairo. The company has developed several residential projects in Dubai, namely the recently completed La Residencia Del Mar, Dorrabay and The Jewels at Dubai Marina. The exquisite Infinity Tower which is the only 90 degree twisting tower in the world along with Silverene, the spectacular architectural achievement for Cayan are also being developed at a prime locations in Dubai Marina. It is also developing Cayan Business Centre, a freehold commercial tower in TECOM on Sheik Zayed Road. In KSA, Cayan is developing Lamar project, a one of its kind 7 star luxury project.

 

Issued by Landmark PR & Event Management. For press information contact:

Nasry Abou Zaki                                              Shadi Abou Assi

General Manager, Middle East                          Account Manager

Tel.: +971 4 3912141                                        Tel.: +971 4 3912457

Email: n.zaki@landmark-pr.com                       Email: s.abouassi@landmark-pr.com



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