Ladun Investment Company (Ladun) has signed a preliminary agreement with Asbar Al Usool Company (Asbar Capital) to study and develop a mixed-use project in the Sports Boulevard development in Riyadh.

The project land, spanning 16,800 square metres (sqm) in Al-Munsiyah district, is owned by the 1 billion Saudi riyal ($267 million) Asbar Al-Munsiyah Fund, the developer said in a statement to the Saudi stock exchange.

The estimated construction cost will exceed SAR 250 million ($66.63 million), excluding land value, development fees, and value-added tax.

Ladun will act as the developer for the fund, providing services including feasibility studies, design management, execution, marketing and sales.

The project will include a hotel building, luxury residential units and retail outlets, the statement said.

In October 2025, Saudi Arabia's Ministry of Finance said in its pre-budget statement for 2026 that the Sports Boulevard project in Riyadh has achieved a completion rate of 44.2 percent.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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