Riyadh – Mubasher: The board members of Ladun Investment Company have agreed to sign a Sharia-compliant credit facilities agreement with Saudi Awwal Bank (SAB) for a total amount of SAR 154.76 million, according to a bourse filing.
Ladun elaborated that the financing is specifically earmarked to support the development of the first package of the Real Estate Balance Program.
The credit facility carries a total duration of 60 months, equivalent to five years, while it was obtained on 18 May 2026.
This medium-term financial arrangement is intended to provide the necessary liquidity to meet the contractual requirements and execution phases of the set program, an initiative awarded by the Royal Commission for Riyadh City.
The scope of the project funded by this facility focuses on the development of the first package of the program, specifically targeting the Al Qairawan and Al Narjis districts, which are central to the urban development strategy for the capital.
Meanwhile, the funding will ensure that Ladun can fulfill the development mandates and project milestones set forth by the Royal Commission.
In terms of security and collateralization, the agreement with SAB is backed by two primary guarantees. First, Ladun issued a promissory note for the total value of the credit facilities.
Second, the company agreed to the assignment of project revenues to the bank. These measures provide the lender with a structured guarantee based on both the company’s corporate commitment and the specific cash flows generated by the Al Qairawan and Al Narjis developments.
In April 2026, Ladun entered into an agreement with Asbar Capital Company to implement a mixed-use real estate development in Al Munsiyah District.
