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-Saudi-based investment company Ladun said that its subsidiary, Built Industrial Company, was awarded a SAR646 million ($172m) contract to build a mixed-use project named “The Point” in Abha, the Asir region of Saudi Arabia. The fully funded mixed-use project covers about 75,000 sq m along King Fahad Road and is supported by the Real Estate Development Fund Company, a fund held by Red Sea Asir Company and the Tourism Development Fund.
At the point of completion, The Point will include a shopping mall, a hotel, entertainment facilities, administrative buildings, open spaces, and lush gardens. This development is in pursuit of being a unique destination for shopping, lifestyle, and hospitality on the lookout for different experiences offered to the inhabitants and visitors of Abha.
The new project is likely to be an add-on flavor in the Asir region as it would meet entertainment, shopping, and hospitality attractions, making Abha the attraction within Saudi Arabia and even outside Saudi for internal tourism and tourism outside Saudi.
