LADUN

30 April, 2024 15:37

Ladun Investment Company announces the signing of a contract to manage and operate Ladun Tower project with Cheval Collection International Company

Element ListExplanation
Introduction Driven by its strategic directions to diversify its investment portfolio and achieve sustainability, and in line with the Kingdom’s Vision 2030 projects, Ladun Investment Company announces its first projects in the field of luxury hospitality by signing a contract to manage and operate the Cheval Ladun residential tower (luxury apartments) located on King Fahd Road in Riyadh, with Cheval Collection Company which is the first project of the British based company specializing in luxury hospitality in the Kingdom of Saudi Arabia, where the name “CHEVAL LADUN LIVING” was given to the project, which includes 130 luxury residential apartments of various sizes between one, two and three rooms. In addition to a gym and swimming pool. Note that the operator will contribute with the company’s management in following up and ensuring the quality of the work and its compliance with the highest international standards by supervising the designs and works throughout the project execution period until operation begins. ‎
Date of Announcement of the Award 2024-04-30 Corresponding to 1445-10-21
Contract Subject Matter Managing and operating luxury Apartments under the Cheval Collection brand.
The Entity with Which the Contract was Signed Cheval Collection
Date of Signing the Contract 2024-04-30 Corresponding to 1445-10-21
Contract Value It has no specific value as the operator receives a share of the revenue and profits as compensation for managing and operating.
Contract Details Cheval Collection Company will manage and operate the “CHEVAL LADUN LIVING”, which will be established by Ladun Investment Company and its subsidiaries on its land located on King Fahd Road in Riyadh. The tower includes 130 luxury apartments in addition to entertainment and sports services.
Contract Duration 20 years from the date of tower operations
Financial Impact and the Relevant Period Upon the commencement of tower operations, which is anticipated in the Year 2027
Related Parties None

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