Riyadh - Mubasher: Ladun Investment Company has inked a memorandum of understanding (MoU) with Asbar Capital Company to implement a mixed-use real estate development in Riyadh’s Sports Boulevard, Al Munsiyah District.
Ladun will serve as the project developer, overseeing studies, design, execution, marketing, and sales to maximize the asset value of the Asbar Al-Munsiyah Fund, according to a bourse filing.
With estimated construction costs exceeding SAR 250 million, the development project will be built on fund-owned land spanning four plots on Prince Mohammed bin Salman Road, featuring a hotel, luxury residential units, and retail outlets.
On 13 April, Ladun’s unit Built Industrial Company was awarded a SAR 84.99 million contract from the Royal Commission for Riyadh City.
