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Ladun Investment Company Announces the Signing of a Memorandum of Understanding with Asbar Capital to Study and Develop a Mixed-Use Real Estate Project for Lands Owned by Asbar Al-Munsiyah Fund in Riyadh – Sports Boulevard – Al-Munsiyah District

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14 April 2026

Ladun Investment Company Announces the Signing of a Memorandum of Understanding with Asbar Capital to Study and Develop a Mixed-Use Real Estate Project for Lands Owned by Asbar Al-Munsiyah Fund in Riyadh – Sports Boulevard – Al-Munsiyah District

Ladun Investment Company will act as the appointed developer 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 lands covered by the memorandum are located in Al-Munsiyah district and are owned by Asbar Al-Munsiyah Fund. They consist of four plots located on Prince Mohammed bin Salman Road—Plots No. 26 to 29 in Block No. 5—with a total area of 16,844.29 square meters. The project aims to deliver a variety of real estate products, including a hotel building, premium residential units (some designated for operation and others for sale), and retail shops. The estimated construction cost exceeds SAR 250 million, excluding the value of the land assets, development fees, and VAT. It is worth noting that Asbar Al-Munsiyah Fund is a closed-end real estate fund regulated by the Capital Market Authority, operating under applicable governance standards, with a fund size reaching up to SAR 1 billion.