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Tue 11 Jun 2013 03:00 PM

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Dubai Infinity Tower firm to launch Saudi project

Cayan Group this week completed long-delayed 'twisted' tower in Dubai Marnia

Dubai Infinity Tower firm to launch Saudi project

The Dubai-based developer behind the world’s tallest ‘twisted’ building will launch a new project in Saudi Arabia this year, its chairman said.

Cayan Group is the company behind Dubai Marina’s AED1bn Cayan Tower, formerly known as Infinity Tower, which was completed this week after an eight-year construction period marred by setbacks including a 2007 site flooding.

Ahmed Alhatti, president and chairman, did not provide any details of the project other than that it would be in Riyadh, and would not replicate Cayan Tower’s iconic twisting structure.

“We always enjoy doing a unique high-rise, and we’re studying [more opportunities]. We’ve started one, and we’ll be announcing one in Riyadh before the end of this year, and it will be a unique design, just not twisted,” he told reporters at a press event in Dubai on Monday night.

Alhatti said that 80 percent of the 75-storey Cayan Tower, which is 307m high and contains 495 apartments, had already been sold to investors, and that there was no time frame to release the remaining units.

“We are planning to open the rest for sale, but not soon, maybe after summer. It depends on the market. If we can see there is lots of hype, and lots of demand, then maybe we will open it. But there’s no rush to open it now,” he said.

Cayan Tower, which was launched in 2005, has been built by contractors including Dubai’s Arabtec and Drake & Scull. Construction on the project was halted for almost two years when one of walls of the neighbouring Dubai Marina burst, submerging the building’s 27m deep foundations.

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