LADUN Investment Company announces the signing of a Memorandum of Understanding with Asbar Capital Company to study and implement a mixed-use real estate development project on land owned by Asbar Al-Munsiyah Fund, located in Riyadh – Sports Boulevard – Al-Munsiyah District

The land covered by the Memorandum is located in Al-Munsiyah District and is owned by the Asbar Al-Munsiyah Fund. It consists of 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 square meters. 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 SAR 250 million, excluding the value of the land, development fees, and value-added tax.

It is worth noting that the Asbar Al-Munsiyah Fund is a closed-end real estate fund subject to the regulations of the Capital Market Authority and applicable governance standards, with a size reaching up to SAR 1 billion.