Riyadh – Mubasher: Ladun Investment Company bought land in Riyadh at a value of SAR 75 million on 1 October 2023, according to a bourse disclosure.
Located in the Al Rimal neighborhood, the land spans 50,000 square metres, according to a bourse disclosure.
Ladun Investment purchased the land from Nasser bin Ibrahim bin Nasser Al Omar. The financing was granted by Bank Albilad.
The listed firm highlighted that the transaction will achieve good profitability during the years 2024 and 2025.
In the first half (H1) of 2023, the company posted net profits after Zakat and tax worth SAR 73.14 million, an annual jump of 143.73% from SAR 30.01 million.
Revenues hiked by 26.90% to SAR 652.13 million in H1-23 from SAR 513.89 million in H1-22, while the earnings per share (EPS) grew to SAR 0.15 from SAR 0.06.
