Ladun purchases commercial residential complex in Riyadh for SAR 83.9M

Ladun Investment Co. purchased on Oct. 31 a commercial residential complex in Riyadh for SAR 83.85 million, including brokerage fees and real estate transaction tax, according to a statement to Tadawul.

The deal will be financed from bank facilities as well as internal resources.

The residential complex is located in As Sulimaniyah district, Riyadh, and spans 10,000 square meters (sqm).

The deal aims at generating profitability by redesigning, developing and selling commercial residential units, and is forecast to contribute to the company’s business growth.

The deal was sealed with Prince Turki bin Fahd bin Mohammed Al Saud with no related parties involved, the statement added.