Dubai, 13 October 2008: Arabian Construction Company – ACC – has been awarded the 885 million SR construction contract for Lamar Towers in Jeddah. The piling work of the project was by Kasktas Arabia Ltd. a year ago and the impressive name in the world of construction, ACC, will be mobilizing on the site from date of award.

On his side, Mr. Badr Al Zahrani, owner of Zahran Real Estate and of Lamar said, “Due to its intelligent location on Jeddah’s seaside, once completed the Lamar Commercial and Residential Towers project will offer a unique lifestyle at the highest level of living standards and remarkable posh housing. Awarding this 2 billion SR project to ACC will ensure its completion on time with the highest expected standards, suitable for our elite clients.

Cayan chairman Mr. Ahmed Al Hatti said: “Cayan works hard to ensure appointing only the very best companies for its projects. ACC is known for their experience in high-rise projects and skyscrapers; thus, awarding the contract for ACC will ensure that Lamar will be completed by a professional construction team that will not only deliver on time but also hand over a finished product that exceeds our clients' expectations.”

ACC has been engaged in prestigious projects in UAE consisting of mixed development projects and skyscrapers. Their experience in high-rise projects has been manifested by the current projects in hand. While ACC's management consists of highly qualified professionals with a distinguished track record in the region, its staff has always taken on the challenge of broadening fields of operations and increasingly complex work standards over the past 40 years. In doing so, they have constantly acquired new skills and expertise that keep them ahead in the industry.

Lamar project consists of two stunning 60 and 68-storey residential towers with a 13-storey commercial development curving its way in between. The one-to-four bedroom apartments, three-bedroom lofts, half and full floor penthouses in the residential towers will offer spectacular views of the Red Sea. The Lamar Commercial Center, which is a gateway for modern and contemporary businesses in the Kingdom for international companies, as well as its status, will offer the elite’s primary destination in Jeddah.

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About Cayan Investment & Development

Cayan is a regional player with presence in Dubai, Riyadh, Jeddah and Cairo. The company has developed several residential projects in Dubai, namely the recently completed La Residencia Del Mar, Dorrabay and The Jewels at Dubai Marina. The exquisite Infinity Tower which is the only 90 degree twisting tower in the world is also being developed at a prime location in Dubai Marina. It is also developing Cayan Business Centre, a freehold commercial tower in TECOM on Sheik Zayed Road. In KSA, Cayan is developing the Lamar project, a one of its kind 7 star luxury project.

About Arabian Construction Company (ACC)

Arabian Construction Company (ACC) is a leading construction company headquartered from Lebanon and operating in UAE, Saudi Arabia, Qatar, Egypt, and Syria. ACC has been operating since 1967. ACC's track record is a prestigious list of efficiently delivered projects; ranging from power generation and desalination plants, to factories, hotels, hospitals, and intricately sophisticated smart buildings.