Built Industrial Company, a subsidiary of Saudi-listed Ladun Investment Company, has secured a USD 171.7 mln construction contract with the Real Estate Development Fund for the ‘The Point Abha’ project in Abha city, as announced in a stock exchange filing.
The mixed-use development spans 75,000 square meters along King Fahd Road in Abha and will feature a shopping center, hotel, entertainment facilities, administrative buildings, open plazas, and gardens.
The Real Estate Development Fund Company, which owns the project, is a private real estate investment fund backed by Red Sea Asir Company and the Tourism Development Fund and managed by Fransi Capital, Ladun Investment said. The project is expected to be completed within 1,080 days.
