Logo ofLadun Investment Co.
A consortium comprising Ladun Investment Co. and AL-AYUNI Investment and Contracting Co. won the Khalidiyah Informal Settlement Redevelopment Project in Makkah from the Royal Commission for Makkah City and Holy Sites (RCMC), Ladun said in a statement to Tadawul on Monday. 
The company said targeted sales from the project are expected to exceed SAR 6 billion, adding that there are no related parties involved.
Ladun said the project scope includes establishing a closed-ended private real estate investment fund in compliance with Capital Market Authority investment fund regulations and other applicable laws and regulations.
The fund will be tasked with carrying out infrastructure works for the project site, subdividing the land into plots and selling them through the developer, which will be appointed as the project’s marketer, before exiting the fund.
The company said the project also covers the design, execution, and delivery of infrastructure works in line with the highest planning and engineering standards, while balancing development requirements with the preservation of the city’s urban and social fabric.
The project must also meet the requirements of relevant authorities, including RCMC, Makkah Municipality, the National Water Co., the Saudi Electricity Co., telecommunications operators, the Real Estate General Authority; and the Wafi off-plan sales program, as well as other service providers.
The scope of work further includes preparing the master plan and detailed engineering designs, implementing road, water, sewage, electricity, and telecommunications networks, designing public spaces and parks, coordinating utility connections, and ensuring the plots are fully serviced and ready for handover to customers.
Logo ofLadun Investment Co.
A consortium comprising Ladun Investment Co. and AL-AYUNI Investment and Contracting Co. won the Khalidiyah Informal Settlement Redevelopment Project in Makkah from the Royal Commission for Makkah City and Holy Sites (RCMC), Ladun said in a statement to Tadawul on Monday.
The company said targeted sales from the project are expected to exceed SAR 6 billion, adding that there are no related parties involved.
Ladun said the project scope includes establishing a closed-ended private real estate investment fund in compliance with Capital Market Authority investment fund regulations and other applicable laws and regulations.
The fund will be tasked with carrying out infrastructure works for the project site, subdividing the land into plots and selling them through the developer, which will be appointed as the project’s marketer, before exiting the fund.
The company said the project also covers the design, execution, and delivery of infrastructure works in line with the highest planning and engineering standards, while balancing development requirements with the preservation of the city’s urban and social fabric.
The project must also meet the requirements of relevant authorities, including RCMC, Makkah Municipality, the National Water Co., the Saudi Electricity Co., telecommunications operators, the Real Estate General Authority; and the Wafi off-plan sales program, as well as other service providers.
The scope of work further includes preparing the master plan and detailed engineering designs, implementing road, water, sewage, electricity, and telecommunications networks, designing public spaces and parks, coordinating utility connections, and ensuring the plots are fully serviced and ready for handover to customers.
