JEDDAH: Cayan Investment and Development yesterday revealed new agreements with two contractors in the construction for its “iconic” SR2 billion Lamar Towers project in Jeddah.
“The actual foundation on the site is almost complete,” he said, adding that appointing the two new contractors, Arabtec and Drake & Scull, reflect our resolve to offer credibility and transparency and construct a one-of-its-kind development in Jeddah,” Ahmed Alhatti, chairman of Cayan Investment and Development, told reporters yesterday.
Lamar Towers project is spread across 33,000 square meters, which includes two residential towers. The first tower is 68 stories and the second 60 stories, which will offer views of the Red Sea. The project also has a 10-storied 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.
Arabtec won the contract for the construction of the Lamar project.
The second appointment was with the Saudi Drake & Scull, as the contractors for electro-mechanical works and is worth more than SR500 million. Drake & Scull is considered one of the most important companies providing integrated services in the field of mechanical and electrical engineering, health and others.
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.”
