Ladun unit signs SAR 645.7M mixed-use project contract

Ladun Investment Co.’s subsidiary, Built Industrial Co., inked a contract to undertake “The Point Abha” project for the Real Estate Development Fund (REDF), at a total value of SAR 645.66 million, including VAT, according to a statement to Tadawul.

The Point project is a mixed-use development, spanning 75,000 square meters (sqm) along King Fahd Road in Abha.

The project duration is 1,080 days, Ladun said, adding that the positive financial impact will reflect in 2025, 2026 and 2027. There are no related parties, it noted.