Ladun unit wins SAR 645.7M mixed-use project in Abha

Ladun Investment Co. announced that its subsidiary, Built Industrial Co. won on Oct. 6, a project by the Real Estate Development Fund (REDF) valued at SAR 645.66 million, including value-added tax.

According to a statement on Tadawul, the company will implement the works of the multi-use project "The Point" in Abha city.

The Point spans 75,000 square meters along King Fahd Expressway, and consists of a shopping mall, a hotel, entertainment facilities, administrative buildings, open squares, and gardens.

It is a unique destination for retail and hospitality, and provides an exceptional experience in retail, lifestyle, food and beverage, and hospitality.

The statement pointed out that REDF owns The Point. It represents a strategic partnership between the Red Sea Markets for Real Estate Investment Co. (Asir) and the Tourism Development Fund through a private closed real estate investment fund managed by BSF Capital.