Ladun signs project management deal with Cheval Collection

Ladun Investment Co. signed today, April. 30, a contract with Cheval Collection Co. for management and operation of Cheval Ladun Living, a luxury hotel apartments tower, on King Fahd Road in Riyadh, the company said in a statement on Tadawul.

There are no related parties involved in the deal.

Cheval Collection will manage and operate the Cheval Ladun tower, which will be constructed by Ladun Investment and its subsidiaries. The tower will house 130 hotel apartment units with recreational and sports services.

The company noted that Cheval Ladun Living is the British company's first luxury hospitality project in Saudi Arabia. The operator will collaborate with management to ensure work quality meets the highest international standards through supervision of designs and construction until operations begin.

Ladun stated that the contract has no fixed value and the operator will earn a percentage of the revenue and profit for management and operation for 20 years from the start of the tower’s operations.

The project's financial impact will begin after operations start, which is expected in 2027, the statement said.