Ladun sells Al Rimal land in Riyadh for SAR 117.5M

16/02/2025 Argaam
Logo ofLadun Investment Co.

Logo of Ladun Investment Co. 

Ladun Investment Co. sold today, Feb. 16, a 50,000-square-meter land plot in Riyadh’s Al Rimal district for SAR 117.5 million, excluding real estate transaction tax and brokerage fees.

 

The property was acquired equally by Fahad Al-Shibayani (50%) and Nasser Al-Shibayani (50%). Its book value stood at SAR 80.63 million, the company said in a filing to Tadawul.

 

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The deal aims to generate profit from an asset initially acquired for development and resale, Ladun said, expecting a positive financial impact in 2025 and a reduction in financing obligations.

 

Proceeds will be used to repay a loan from Bank Albilad used to acquire the land. The remaining funds will support the company’s operations. No related parties were involved.

 

Argaam estimates the deal generated a capital gain of SAR 36.87 million.

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