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Lateef partners with Asbar on Riyadh real estate project
Laden Investment Company has forecasted a mixed-use real estate project in Al Munsiyah neighborhood, Riyadh, with a development cost estimated at 339 million SAR, up from the initial estimate of 250 million SAR. The project includes the construction of a hotel, luxury residential units, and commercial and administrative spaces. It will be situated on a total area of 16,844 square meters along Prince Mohammed Bin Salman Road. The company will manage all stages of design, construction, and marketing within a 48-month timeline, earning development fees of 10% of the costs, plus performance incentives of up to 10% of the revenues exceeding a targeted internal rate of return of 18%.
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