Saudi-based Ladun Investment Company has announced that it has signed an agreement with Asbar Capital Company for the implementation of a mixed-use real estate development project on a land owned by one of its key funds, located within Sports Boulevard – Al-Munsiyah District in Riyadh. 

As per the deal, Ladun Investment Company will act as the developer appointed by the Fund to provide development services, including highest and best use studies, design management, execution, marketing, and sales, in a manner that maximizes the value of the Fund’s assets.

The land covered by the MoU is located in Al Munsiyah District and is owned by the Asbar Al Munsiyah Fund. It comprises four land plots situated on Prince Mohammed bin Salman Road — Plot Nos. 26 to 29 of Block No. 5 — with a total area of 16,844.29 sq m. 

The project aims to deliver a range of real estate products, including a hotel building, luxury residential units (some designated for operation and others for sale), and retail outlets, with estimated construction costs exceeding SAR250 million ($66.5 million).-TradeArabia News Service