REDF rents admin building from Ladun for SAR 108M

Ladun Investment Co.  signed on June 4 a contract to rent an administrative building in Aqiq, Riyadh, to the Real Estate Development Fund (REDF) for SAR 107.96 million, inclusive of VAT.

The five-year contract will come into effect on Nov. 7, 2024. The building, which spans 11,240 square meters, comprises four floors and a 300-slot car park, Ladun said in a statement to Tadawul.

The company expected the relevant financial impact to appear from 2024 to 2028, noting that there are no related parties to the deal.