Cayan Group, a leading property developer in the Middle East, said its mixed-use commercial tower project in Riyadh, Saudi Arabia, is nearing completion.

The 14-storey CMC Tower, located on King Fahad Road, is being built at a cost of SR100 million ($26.6 million).

Cayan said the construction is moving at a steady pace and the project will be completed ahead of schedule.

"Usually, a tower of this stature consisting of three distinct phases or packages - the enabling, structural and finishing of development - takes a period of 24 months for completion," remarked Ahmed Alhatti, the chairman of Cayan Group.

The project contractor Al Bawani Company said both the enabling and structural packages of the tower have been completed ahead of schedule within three and six months respectively. It will soon award the finishing package.

"This signifies great teamwork, planning, and communication on all sides. We are proud of this, and are thrilled at the prospect of an early completion of the entire CMC Tower," added Alhatti.-TradeArabia News Service