Element List Explanation
Introduction 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 comprising a hotel building, luxury residential units (some designated for operation and others for sale), and retail outlets, on land owned by the Asbar Al-Munsiyah Fund in Riyadh – Sports Boulevard – Al-Munsiyah District.
Memorandum Signing Date 2026-04-14 Corresponding to 1447-10-26
Counterparty Asbar Capital Company
Memorandum Subject 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 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.
Memorandum Duration extendable Six months from the date of signing,.
Related Parties NA
Financial Impact There is currently no financial impact, and any future financial impact will be announced later.
 

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