SAUDI ARABIA: Ladun Investment Company, a Saudi property management and investment company, signed a five-year Islamic financing agreement with BSF for an amount of SAR216 million (US$57.6 million). The facility will be used to enable Built Industrial, a construction company wholly-owned by Ladun Investment, to provide the necessary guarantees and secure the required financing to execute the construction contract for The Point project in the city of Abha.
Ladun also sold a 50,000 square meter land plot in Al-Rimal district, Riyadh, for SAR117.5 million (US$31.33 million) to repay the purchase financing from Bank Albilad and remainder for company operations.
