Saudi Arabia's Ladun Investment Company has signed a partnership agreement with London-based Cheval Collection for the construction and operation of Cheval Ladun Living in Riyadh, Saudi Arabia. The agreement marks Cheval's first venture into the Saudi Arabian market.  The project will feature a tower with hotel apartments on King Fahd Road. The agreement was signed during the Future Hospitality Summit, which took place in Riyadh from 29 April to 1 May 2024. The new development will feature 130 residential units, ranging from one to three bedrooms. Construction of the tower is expected to cost up to $80m and is scheduled to begin this year, with completion targeted for 2027.  The construction will be carried out by the local firm Built Industrial Company, a subsidiary of Ladun Investment. Al Rajhi Bank will provide project financing while Khatib and Alami Company will oversee design and implementation supervision.  Architectural design consultation will be provided by Abdulelah Al Mohanna Company and DZ Company will offer interior design consultation. (ICE RIYADH)

Fonte notizia: Meed