‎Ladun signs agreement to develop mixed-use project in Riyadh’s Al Munsiyah district

‎<p ><img src="https://argaamplus.s3.amazonaws.com/7cd6bc7a-22a6-430d-8344-a3d22e72ac4f.png" ></p> <p class="ckeCaption" >Logo ofLadun Investment Co.</p> <hr> <p ><a href="http://www.argaam.com/en/tadawul/tasi/ladun" target="_blank">Ladun Investment Co.</a> signed on Oct. 4 a real estate development agreement with Asbar Capital, in its capacity as manager of the Asbar Al Munsiyah Fund, to develop a mixed-use project on the fund’s land in Riyadh’s Al Munsiyah district.</p> <p ></p> <p >Under the agreement, Ladun will act as the project developer, overseeing feasibility studies, design and development, construction supervision, marketing, and sales.</p> <p ></p> <p >The project will be built on four plots spanning around 16,800 square meters on Prince Mohammed bin Salman Road. It will comprise a hotel, luxury residential units for operation and sale, retail outlets, and offices.</p> <p ></p> <p >Ladun’s development fee will amount to 10% of total costs, excluding land value, plus a 10% performance fee on returns exceeding the targeted 18% internal rate of return. The performance incentive will be shared 60% with the developer and 40% with the fund manager.</p> <p ></p> <p >The project’s estimated development cost stands at around SAR 339 million, based on the latest preliminary financial studies, versus SAR 250 million previously disclosed before the approval of final designs and deliverables. The estimated value excludes land value and VAT.</p> <p ></p> <p >The agreement is valid for 48 months from the signing date and will remain in effect until completion and closing of the project, subject to the approved schedule.</p> <p ></p> <p >Project execution is subject to obtaining the required regulatory approvals and licenses, including those related to development and off-plan sales.</p> <p ></p> <p >According to <span ><strong>Argaam </strong></span>data, Ladun signed a memorandum of understanding (MoU) with Aspar Capital in April to study and implement a mixed-use real estate development project on land owned by the Asbar Al Munsiyah Fund in Riyadh’s Al Munsiyah district, at estimated construction costs exceeding SAR 250 million, excluding asset value, development fees, and VAT.</p>

Publication

Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements

Published

5th October 2026

Original report

argaam.com

ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.