Asbar Capital and Ladun Investment Company have entered into a formal agreement to explore a new real estate development in Riyadh. The two firms signed a memorandum of understanding on 14 April 2026. This partnership focuses on the creation of a mixed-use project located on land belonging to the Asbar Al-Munsiyah Fund.

The proposed site is situated in the Al-Munsiyah district along Prince Mohammed bin Salman Road. According to a statement, the project covers four plots of land with a total area of 16.8 thousand square metres. The plan for the site includes a hotel building alongside commercial retail units. The residential portion will be divided between units for sale and those designed for specialised operations.

Ladun Investment Company will act as the appointed developer for the scheme. Their responsibilities include conducting feasibility studies to determine the most effective use of the land. They will also oversee the management of design and execution. Additionally, the firm will handle the marketing and sales strategies for the development. These actions are intended to increase the total value of the assets held by the fund.

Project leaders estimate that construction costs will exceed 250 million riyals. This figure does not include the initial land value, development fees or Value Added Tax. The Asbar Al-Munsiyah Fund is a closed real estate investment fund with a volume of around one billion riyals. It is regulated by the Capital Market Authority.

The memorandum of understanding is set for a duration of six months from the signing date. There is an option to renew the agreement once this period ends. Currently, there is no immediate financial impact on either company. Ladun Investment Company has confirmed that any future financial developments or impacts will be disclosed when they occur. The project represents a significant step in the ongoing development of the Al-Munsiyah district.