November 10, 2022
Ladun Investment Co., through its subsidiary “Built Industrial Company,” has signed a significant contract with the Real Estate Development Fund Company.
The contract, valued at SAR 645.6 million, was officially awarded in October 2024. As part of this agreement, Built Industrial Company will oversee the development of “The Point,” a prominent mixed-use project in Abha city.
Spanning 75,000 square meters along King Fahd Road, The Point is set to become a landmark destination in Abha. The project will feature a shopping center, a hotel, various entertainment venues, administrative offices, open plazas, and gardens. Designed to enhance retail, lifestyle, dining, and hospitality offerings, it aims to provide a unique and elevated experience for residents and visitors of the Asir region.
The project is owned by the Real Estate Development Fund Company, a private closed-end real estate fund jointly owned by Red Sea Asir Company and the Tourism Development Fund, and managed by Fransi Capital.
The project’s construction is expected to take 1,080 days, solidifying its place as a key development in the region’s urban and economic growth.
