Saudi Arabia: Luxury hospitality company Cheval Collection has signed an agreement with developer Ladun Investment Company for Cheval Ladun Living in Riyadh.
The luxury hotel apartment tower marks the first project for Cheval in Saudi Arabia. Located on King Fahd Road, it will feature 130 units ranging from one to three bedrooms along with amenities including a gym, swimming pool, and sauna.
Construction is set to begin later this year with a scheduled completion in 2027. The project is expected to cost around £63.8 million.
John Philipson, chief operating officer at Cheval Collection, said: “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.”
Hassan bin Shawqi Alhazmi, CEO of Ladun Investment Company, added: “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.”
Additional contracts have been signed for Cheval Ladun Living, including the primary contractor (Built Industrial Company), financing (Al Rajhi Bank), design and implementation (Khatbi and Alami), architectural design consultant (Abdulelah Al Mohanna), and interior design consultant (DZ Design).
