Ladun buys land plot in Riyadh for SAR 75 mln

01/10/2023 Argaam
Logo ofLadun Investment Co.

Logo of Ladun Investment Co.

Ladun Investment Co. purchased a 50,000 square meter land plot in Al-Rimal district, Riyadh, for SAR 75 million (excluding real estate tax and office fees), the company said in a statement to Tadawul today, Oct. 1. 

 

The seller is Nasser Al-Omar, said the company, adding that the deal was financed from credit facilities granted by Bank Albilad. 

 

It stated that the purpose of the deal is to develop and sell the land, expecting to generate strong profit from the development and sale in 2024 and 2025.

 

Ladun also noted that there are no related parties to the deal.

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