Ledn and Asper partner on Riyadh project
Laden Investment Company has signed a real estate development agreement with Aspar Financial Company to implement a mixed-use project in AlMunsiyah neighborhood in Riyadh, with an estimated cost of 339 million SAR, exceeding the initial estimate of 250 million SAR. The project includes the construction of a hotel, luxury residential units, as well as commercial and administrative spaces on four plots of land totaling 16,844 square meters, with a completion period of up to 48 months. The company will manage all development phases, including studies, design, construction, and marketing. It will benefit from a development fee of 10% of the costs, along with incentives amounting to 10% of the returns that exceed a targeted internal rate of return of 18%.
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