Ladun inks deal to operate Cheval Maison Sulaymaniyah project

Ladun expects work on the project to start at the onset of 2026, with operations likely in early 2028

Ladun Investment Co. signed, on Nov. 18, an agreement with Cheval Collection to operate the Cheval Maison Sulaymaniyah project, covering a residential complex that comprises more than 150 contemporary properties.

In a statement to Tadawul today, Nov. 19, the Saudi-listed company said work on the project is scheduled to begin at the beginning of 2026, with operations expected to commence in early 2028.

Regarding the operating agreement, there are no upfront costs, as the operator will receive a share of the generated revenues and net profits in return for the services provided.

As for the project’s construction work, the initial cost is estimated at SAR 150 million, Ladun stated.

According to Argaam’s data, on Oct. 31, 2024, Ladun announced the purchase of a commercial residential complex in Riyadh for SAR 83.85 million, including brokerage fees and real estate transaction tax.

This residential complex is located in Sulaymaniyah District, Riyadh, spanning an area of 10,000 square meters (sqm).