Construction Work on AED 500 Million

Plaza Residences Progresses

October, 2008, Dubai – Construction work on Plaza Residences progresses well following the appointment of Construction and Reconstruction Company (CRC) by Cayan Investment & Development. The Plaza Residences project stands out for its design and cluster of tower blocks.

The AED 500 million project “Plaza Residences” is a mixed used development consisting of residential and retail complexes, located within Jumeirah Village. This marks Cayan’s seventh project in Dubai, bringing its total portfolio to AED 8 Billion.

Speaking on this announcement, Mr. Kareem Derbas, CEO of Cayan said, “We identified Jumeirah Village as the ideal location for the Plaza Residences project as it offers a holistic living experience for its residents as envisioned by the lead developers, Nakheel. The residences enjoy a good location overlooking a park and it is in close proximity to the central park which will be a landscaped area with a lot of activities for the whole family.”

CRC embarks a prominent position among the existing companies in the construction field in Egypt and are responsible for the construction of the most renowned residential, industrial, tourism and real estate projects in Egypt.

Plaza Residences comprises four buildings, the tallest having 16 floors followed by two towers with 10 floors and one low rise tower with just four floors. The towers offer studio units, one, two and three bedroom apartments, duplexes, town houses and retail stores. The project has a large courtyard which will have landscaped areas, kids play grounds and a large swimming pool. A large state-of-the art gymnasium will also be part of the amenities. Each home has been designed to ensure maximum availability of space with minimum obstructions.

Jumeirah Village is a self sustained neighborhood located between Emirates, Al Khail and Al Barsha roads, and will offer various retail and leisure facilities with beautiful landscaping and distinct Mediterranean architecture.

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About Cayan Investment & Development

Cayan is a regional player with presence in Dubai, Riyadh, Jeddah and now in 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.

Construction and Reconstruction Company (CRC)

CRC is a pioneer in the field of construction with a remarkable record of success since its establishment in 1943, CRC is rapidly assumed a prominent position among the existing companies in the construction field in Egypt and regionally and is part of the esteemed group of companies that form the Dorra Group.

Since the early 80s the company adopted a strategy of joining forces with international calibre expertise. Joint ventures were formed with major international construction companies such as British John Laing International and Costain, the American Harpers and Howards, the Japanese Dia Nepon and the Spanish Cimy enabling CRC to complete many major projects most efficiently. CRC is the corner store of the Dorra Group of companies and is responsible for the construction of all group-owned residential, industrial, tourism and real estate projects.

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