Construction giant, Cayan Group, recorded 27% profit on its revenues in 2015. With headquarters in Saudi Arabia and the UAE, the company consists of various business units, such as Cayan International Real Estate Investment and Development, Cayan Homes Real Estate Brokers, Cayan Community Management, Cayan Hospitality, and Cayan Assets.
Independently and through partnerships, Cayan has a footprint in industries such as project development, project management, engineering, and facilities management.
Company officials told Construction Week that Cayan’s budget includes spend worth $105,628 (AED387,967) to implement an employee training programme this year.
Best known for its ‘twisting’ 75-storey residential high-rise, Cayan Tower, in Dubai Marina, the group has expanded its development portfolio, and is preparing to deliver numerous projects over the next year.
Among these is Dubai’s Cayan Cantara, which comprises luxurious freehold residential and hotel apartments, and Riyadh’s CMC, which features infrastructure, retail shops, and 10 floors of corporate offices that can be rented or purchased.
Cayan Group is also developing Samaya, a 100ha residential master development in Riyadh, and the La Mairena project in Spain.
The UAE is Cayan Group’s largest market in the Middle East, followed by Saudi Arabia and Lebanon. Ahmed M Alhatti, president and chairman of the board of Cayan Group, said the company is eyeing expansion into Europe, where it is in the process of finalising new projects.
Alhatti said that property demand “is on a continuous rise” in Saudi Arabia, adding that now is the “perfect time to invest” in the kingdom’s real estate sector.
He continued: “Cayan Group is currently studying a grand opportunity in the region. The project will be a mixed-use complex, which will include different components, such as residential, commercial, hotel, and retail. It is still under study and consideration, and we are hoping to announce it soon.”