Latest news with #Ladun
Argaam
16-02-2025
- Business
- Argaam
Ladun sells Al Rimal land in Riyadh for SAR 117.5M
Ladun Investment Co. sold a 50,000-square-meter land plot in Riyadh's Al Rimal district for SAR 117.5 million, excluding real estate transaction tax and brokerage fees. The property was acquired equally by Fahad Al-Shibayani (50%) and Nasser Al-Shibayani (50%). Its book value stood at SAR 80.63 million. The sale aims to generate profit from an asset initially acquired for development and resale. Ladun expects a positive financial impact in 2025 and a reduction in financing obligations. Proceeds will repay a loan from Bank Albilad used to acquire the land. The remaining funds will support the company's operations. No related parties were involved.
Argaam
16-02-2025
- Business
- Argaam
Ladun signs SAR 216M credit facility deal with BSF
Ladun Investment Co. signed today, Feb. 16, a Shariah-compliant, mixed-use credit facility agreement valued at SAR 216 million with Banque Saudi Fransi (BSF), the company said in a statement to Tadawul. The five-year facility aims to provide guarantees for a construction contract signed by Ladun's subsidiary, Built Industrial Co., for The Point project in Abha. The facility is secured by a SAR 216 million promissory note payable on demand. Additionally, Built Industrial assigned project receivables to BSF, with acknowledgment from the project owner. The financing will help Built Industrial provide guarantees and secure funds needed to execute the contract for The Point project. Ladun confirmed that the agreement does not involve any related parties. In November 2024, the company announced that Built Industrial had signed a SAR 645.66 million contract, including VAT, with the Real Estate Development Fund (REDF) to construct the mixed-use project in Abha.
Leaders
29-01-2025
- Business
- Leaders
Exclusive Interview: Ladun Real Estate Expands into Hospitality at RFF
Mohammed Abdul-Latif Hajar, Director of Studies and Design at Ladun, emphasized the company's deep-rooted presence in Saudi Arabia's real estate sector. Speaking at the Real Estate Future Forum 2025, he highlighted Ladun's 50-year legacy in property development across multiple sectors. Diverse Real Estate Portfolio Ladun operates in three key sectors, focusing on affordable housing, raw land development, and real estate asset management. 'We engage in affordable housing projects in partnership with the National Housing Company and the Ministry of Housing,' Hajar said. 'Our largest projects, Jawharat Al-Rusaifah and Fenan in Makkah, include approximately 2,700 residential units.' The company is also active in raw land development. 'We developed Al-Aseeli suburb in Makkah, covering three million square meters, and Al-Rimal in Riyadh, spanning 500,000 square meters,' he explained. The third sector involves managing residential compounds, each containing around 70 to 80 villas. 'We expanded into comprehensive development, selling 22 fully finished villas last year,' he added. Hospitality Expansion with Cheval Ladun Living Ladun is entering the hospitality sector with Cheval Ladun Living, a luxury residential tower on King Fahd Road. 'This marks Cheval's debut in Saudi Arabia, introducing a five-star luxury serviced apartment concept,' Hajar revealed. The tower will house 124 premium units, offering one-, two-, and three-bedroom apartments. 'What sets this project apart is its spacious design, starting at 100 square meters for a one-bedroom unit,' he emphasized. 'Each unit is fully furnished with a complete kitchen, providing a permanent residence experience in an exclusive setting.' Ladun aims to complete the project by 2027, targeting long-term rentals. 'Every unit includes at least one balcony, enhancing quality of life and aligning with Saudi Vision 2030,' Hajar noted. Supporting Saudi Vision 2030 Ladun's hospitality expansion aligns with the Kingdom's vision for economic diversification and tourism growth. 'Our participation in RFF 2025 reaffirms our commitment to Saudi Arabia's development goals,' Hajar stated. 'With Expo 2030 and the FIFA World Cup 2034 approaching, we are preparing to expand this model nationwide.' Ladun continues contributing to Vision 2030's objectives, transitioning from affordable housing to tourism-driven developments. 'We have long supported Saudi Arabia's progress, and now we are entering hospitality to further enhance the nation's economic transformation,' Hajar concluded. Short link : Post Views: 18
Arab News
28-01-2025
- Business
- Arab News
Foreign investments set to revive Makkah's property market: Ladun CEO
RIYADH: Saudi construction firm Ladun Investment Co. expects a surge in Makkah's real estate sector following a key ruling by the market regulator allowing foreign investment in Saudi-listed companies owning property in the holy cities. In an interview with Arab News at the Real Estate Future Forum in Riyadh, Hassan Al-Hazmi, CEO of the Tadawul-listed firm, emphasized that the new regulations are poised to drive investor confidence in Makkah's market, which has faced stagnation in recent years. On the event's opening day, the Kingdom's Capital Market Authority announced that the Makkah and Madinah real estate markets will now be open to foreign investors. However, investments are limited to shares or convertible debt instruments of listed companies, with total non-Saudi ownership — individuals and legal entities — capped at 49 percent of a company's shares. The decision is expected to enhance the competitiveness of Saudi Arabia's capital market and support the Vision 2030 economic diversification agenda. 'As Mohammed El-Kuwaiz, chairman of the CMA, mentioned yesterday (Jan. 27), the regulations have been studied for more than three years. He said they were supposed to be approved two years ago but were delayed to make them more holistic. There is now a big study regarding foreign investors having ownership in Makkah, Madinah, and the Kingdom as a whole,' said Al-Hazmi. He said Ladun is focused on Makkah and anticipates growth. 'We already manage and own assets in Makkah worth more than SR3.2 billion ($853.1 million).' Al-Hazmi noted that Makkah's real estate sector had faced stagnation since 2014, particularly due to the impact of COVID-19 on religious tourism and travel. However, he believes that the sector is on the brink of recovery. 'We already see signs of recovery — companies owning assets in Makkah are experiencing a rise in their share prices. This is very positive, and we anticipated this shift and planned accordingly,' he added. Ladun is also focused on localizing its workforce and increasing Saudi employment opportunities, aligning with government initiatives. 'Just today, we signed an agreement with the Ministry of Municipal and Rural Affairs and Housing regarding human capital and how we are going to localize more Saudis. At the managerial level, including our C-suite, we have Saudis,' Al-Hazmi said. He added: 'In middle management, we have many young men and women who are part of our company, and they are truly giving us great empathy and trust in ourselves to move forward. This is one of the pillars of Vision 2030.' In November, Ladun announced a new investment in Jabal Omar Development Co. in partnership with Musharaka Capital, acquiring a land plot worth SR600 million with an expected revenue of approximately SR2 billion. This investment is viewed as a major step in reinforcing Ladun's presence in Makkah's evolving real estate market. Al-Hazmi also highlighted the broader impact of Vision 2030 on the Saudi real estate market, particularly in Makkah, which he sees as a prime beneficiary. 'Stability brings prosperity, and Saudi has enjoyed stability for 100 years now, that brings prosperity. We see it. We see it around the region,' he said. Referring to comments made by Larry Fink, CEO of BlackRock, during the World Economic Forum in Davos, Al-Hazmi added: 'Larry mentioned that if we take the US aside, we will find the most stable area in the world the GCC countries. Prosperity will be there.' With a focus on sustainable expansion, strategic investments, and market recovery, Ladun Investment Co. remains optimistic about its role in shaping Makkah's future real estate landscape.
