Ladun Investment, Asbar Financial Sign Development Deal for Saudi Mixed-use Project

01:55 AM EDT, 10/05/2026 (MT Newswires) -- Ladun Investment (SASE:4328) and Asbar Financial Co. finalized an agreement to develop a mixed-use real estate development project in Riyadh's Al Munsiyah District, Saudi Arabia. The real estate-focused investment group said Monday it will serve as the project's developer, with total development costs estimated at 339 million Saudi riyals. Ladun will receive a development fee equal to 10% of total project costs, excluding the land value. It will also be entitled to a performance incentive of 10% of realized returns above the project's targeted internal rate of return of 18%. The development spans four plots of land covering 16,844 square meters and will include a hotel, luxury residential units, retail shops, and an administrative office. The project remains subject to regulatory approvals. Ladun will oversee the project's economic and financial feasibility studies, as well as its design, development, marketing, sales, and overall execution.