Cayan Group, a leading property developer in the Middle East, has launched the sales of its SR1 billion ($266 million) mixed-use residential project Samaya, coming up in Riyadh, Saudi Arabia.

The project developed on a massive 1 million sq m area is located in the prime area of Erga in northwestern Riyadh, said a statement from Cayan.

The sheer magnitude of the project and its planned facilities elicited tremendous interest from the public and investors during the pre-launch period, which was a roaring success, it added.

“We believe Samaya will provide the ultimate luxury and relaxation in modern residential living. As such, we are encouraged by the positive response the pre-launch and official sales launch has received. It bears good testimony to our brand’s identity of quality and iconic designs,” remarked Ahmed Alhatti, the chairman of Cayan Group.

Being developed in Wadi Hanifah contiguous to the Diplomatic Quarter in Erga - one of the most luxurious areas, featuring breathtaking mountains, plains, and amazing parks - the Samaya residential villas will provide fantastic views of Riyadh.

The residential project will also offer integrated services for high-end living including commercial units, schools, mosques, sports clubs, parks, as well as many other entertainment facilities, said Alhatti.

Additionally, ground breaking work has begun at the site and is progressing according to plan. The contract for the excavation phase was awarded soon after Cayan received the official permits including the off-plan permit.

"We are pleased to get Samaya off the ground, of course there is a long way to go before we can deliver this project to the public but we remain excited by the scale and plans we have for Samaya," stated Alhatti.

Samaya project had received the Best Mixed Used Project Award at the 2013 International Property Awards Arabia held in Dubai, UAE.-TradeArabia News Service