Cheval Ladun Living costs SAR 300M, to open in 2027: Ladun CEO

Hassan Alhazmi, CEO of Ladun Investment Co.

Ladun Investment Co.’s investment in Cheval Ladun Living cost SAR 300 million and a contract was signed with hospitality group Cheval Collection for management and operation of the luxury hotel apartments, CEO Hassan Alhazmi told Argaam on the sidelines of Future Hospitality Summit.

The Saudi-listed firm secured credit facilities of up to SAR 600 million from Al Rajhi Bank for Cheval Ladun Living and other projects.

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The project will likely be operational in H1 2027 and reflect on company’s revenue during the period, Alhazmi said.

There are abundant opportunities in Riyadh and across the Kingdom, especially in the luxury hospitality industry, said Alhazmi, noting that Ladun seeks more projects having the same business model.

The firm also invested in various realty projects, as the real estate companies have diversified business portfolios with the aim of maintaining market shares.

Ladun operates in the development of residential land plots, luxury villas, leisure, and multi-purpose projects, said Alhazmi, indicating that the hospitality industry will be significant over the coming period and will grab an adequate market share, which will reflect positively on the company’s strategy. Ladun Investment Co. signed on April. 30, a contract with Cheval Collection Co. for management and operation of Cheval Ladun Living, a luxury hotel apartments tower, on King Fahd Road in Riyadh, Argaam reported.

Cheval Collection will manage and operate the Cheval Ladun tower, which will be constructed by Ladun Investment and its subsidiaries. The tower will house 130 hotel apartment units with recreational and sports services.