Ladun Investment Partners with Cheval Collection

Ladun Investment Company and Cheval Collection have entered a new partnership to build Cheval Ladun Living, a 130-residential-unit tower in Riyadh, Saudi Arabia.

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By Mrinal
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The signing ceremony of Cheval Ladun Living in Saudi Arabia

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For the construction and operation of Ladun Cheval Living, Ladun Investment Company has signed a new partnership agreement with the award-winning hospitality group Cheval Collection. The partnership agreement is scripted for Cheval Ladun Living, a tower featuring luxury hotel apartments, on King Fahd Road, near King Abdullah Financial Centre, in Riyadh, Saudi Arabia.

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A computer-generated image of the newly signed Ladun Cheval Living

The signing event, with all claps and excitement, took place during the Future Hospitality Summit held in Riyadh from 29 April-1 May 2024. The partnership, marking the first project of Cheval Collection in the nation, will set out to feature 130 residential units of different sizes, offering one to three rooms each. Other amenities, like a gym, sauna, and swimming pool, will also be a part of the package.

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The planned tower will feature 130 residential units

The construction of the tower is set out to commence this year, costing around 300 million SAR, and the project is expected to be completed by 2027. For the same, Built Industrial Company has been chosen as the primary contractor for the project whereas Al Rajhi Bank has been roped in for project financing. Khatib and Alami Company is joining in for design and implementation supervision, Abdulelah Al Mohanna Company for architectural design consultation, and DZ Company is on board for interior design consultation.

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Dr Hassan bin Shawqi Alhazmi, CEO, Ladun Investment Company

Regarding the partnership and the new project, Dr Hassan bin Shawqi Alhazmi, CEO, Ladun Investment Company, said, “Cheval Ladun Living marks a significant milestone for us in real estate development. It signals Ladun Investment’s position in this sector, with a commitment to delivering high-quality projects aligned with Saudi Vision 2030. By partnering with key strategic allies, we aim to redefine Riyadh’s real estate landscape, offering a unique experience through this tower.”

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John Philipson, CEO, Cheval Collection

John Philipson, CEO of Cheval Collection, also slated his excitement for the project. “We are thrilled to collaborate with Ladun Investment Company for this venture, giving us an opportunity to contribute to Saudi Arabia’s dynamic hospitality industry. The growing demand for furnished apartments presents an opportunity to strengthen the Cheval Collection brand, leveraging our decades-long expertise in luxury-serviced apartments.”

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Cheval Collection has properties in London, Edinburgh, and Dubai

Cheval Collection is an award-winning luxury hospitality company that specialises in managing and operating exquisite apartments in London, Edinburgh, and Dubai. The company is also all set to add in two new properties to its portfolio – Cheval Maison – Expo City Dubai and Cheval Maison – Wester Regent in Glasgow.

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