As well as being the first high rise development in the Western Region, Lamar will also be the first to offer residential, commercial and a shopping mall – plus a luxury spa – there as part of one development.
Lamar – literally translated from Arabic as molten gold – will be developed at the fashionable North Corniche on the Red Sea in the city of Jeddah.
Zahran Property Investment chairman Bader Al Zahrani says the name was inspired by the way the setting sun will reflect off the glass walls of Lamar, “turning them into dazzling sheets of molten gold”.
“The site is ideal for this project,” Al Zahrani said. “It is a prime location on the Red Sea coastline, has great views and is large enough to accommodate our development.”
The Cayan developed project will feature two stunning residential towers, an upmarket mall, luxury spa, offices, indoor squash courts, outdoor tennis courts, swimming pools for adults and children, plus fully equipped gyms and beauty salons.
The one-to-four bedroom apartments, three-bedroom lofts, half and full floor penthouses in the 58 and 65-storey residential towers all offer stunning views of the Red Sea. Each tower will also have a luxurious VIP lounge where residents can entertain guests.
The 13-storey commercial development will curve its way between the two residential towers and offer offices in various sizes. All will have access to a stunningly-appointed executive floor with a selection of meeting and conference rooms, plus covered parking, and a high-tech security system.
“The proposed three-storey mall will become the premier shopping destination for the elite of Jeddah, being home to many iconic international brands and haute-cuisine restaurants,” said Ahmad Mohammad Al Hatti, Chairman of Cayan Investment & Development.
“The proposed Lamar Spa will also be among the best of its kind in the Middle East, offering the most modern and up-to-date treatments in truly elegant surroundings,” he added.
Cayan commissioned internationally-recognised firms RMJM as the main architect; Turner as project manager; and Saudi Diyar Consultants as local consultant.
Construction is expected to start this summer and the project completed by the end of 2010.
Cayan Investment & Development is the company behind the international award winning “twisting” Infinity Tower at Dubai Marina in the UAE.
Infinity Tower is one of three Dubai residential projects under construction for Cayan, with the other two being DorraBay and The Jewels. A fourth, La Residencia Del Mar, has already handed over to the owners. Cayan is also developing the Cayan Business Centre in the TECOM area in Dubai.
Recently Cayan announced a SR6 billion strategic partnership with Baraka Real Estate to develop a multi-use project on five million square metres of land in the Holy City of Makkah.
With the newly announced Lamar development, Cayan’s total portfolio now exceeds SR15 billion.
Zahran Property Investment is a full service Saudi Arabian public company specialising and operating in property investment across the region.
Infinity Tower was the first joint project between Cayan and Zahran and is an example of how both companies have combined their engineering and architectural expertise to provide innovation in the real estate industry.
Wednesday, February 21- 2007 @ 16:03 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.