Riyadh - Mubasher: Ladun Investment Company inked a SAR 326.69 million contract with the Royal Commission for Riyadh City to develop infrastructure for the Namar Lands under phase one of the Real Estate Balance program.
The project will be executed through a joint venture (JV) with Al Ayuni Investment and Contracting Company, according to a bourse filing.
The five-year contract was signed on 22 June 2026, covering the design, construction, operation, and maintenance of infrastructure works across a 569,933-square-meter (m2) site.
Construction works are forecast to take three years, followed by two years of operation and maintenance.
The scope includes preparing master plans and engineering designs, building road networks, water and sewage systems, electricity and telecommunications infrastructure, as well as developing public spaces and parks.
Moreover, the project also involves coordinating utility connections and delivering fully serviced land ready for allocation to citizens.
The development will be implemented in line with the requirements of relevant authorities, including the Riyadh Region Municipality, National Water Company, Saudi Electricity Company, telecommunications providers, the Real Estate General Authority, and the Wafi off-plan sales program.
Ladun said the project is designed to integrate urban planning, sustainability, and technology, supporting quality-of-life improvements and expanding Riyadh’s residential real estate supply.
It is also worth mentioning that the agreement is expected to have a positive impact on the company’s profitability throughout the execution period.
In May 2026, Ladun Investment’s board approved the signing of a Shariah-compliant credit facilities agreement with Saudi Awwal Bank (SAB) valued at SAR 154.76 million.
