Logo ofLadun Investment Co.
Ladun Investment Co. signed today, June 23, two contracts with the Royal Commission for Riyadh City (RCRC) for infrastructure development projects under Phase 1 of the Real Estate Balance Program, covering the Qirawan–Al Narjis lands and Namar land. 
The projects will be executed by Ladun in consortium with Al Ayuni Investment Contracting Co., with a combined contract value of approximately SAR 2.39 billion, including VAT, according to a statement to Tadawul.
The Qirawan–Al Narjis contract is valued at SAR 2.06 billion, while the Namar contract stands at SAR 326.7 million, both inclusive of VAT.
The Qirawan–Al Narjis project covers the design, execution and delivery of infrastructure works for designated sites spanning 3.6 million sqm in Qirawan and 87,000 sqm in Al Narjis. The project includes three years of construction followed by two years of operation and maintenance, for a total contract term of five years.
The Namar project covers the design, execution and delivery of infrastructure works for a 569,933 sqm site, with the same implementation schedule of three years for construction and two years for operation and maintenance.
Both projects require compliance with the requirements of relevant authorities and service providers, including Riyadh Municipality, the National Water Co., Saudi Electricity Co., telecom operators, the Real Estate General Authority (REGA) and the Wafi off-plan sales program.
The scope of work includes preparing detailed master plans and detailed designs, constructing road, water, sewage, electricity and telecommunications networks, designing public spaces and parks, coordinating utility connections, and ensuring the sites are fully infrastructure-ready for handover to citizens.
The company said the projects represent a model for integrating urban planning, sustainability and technology, contributing to improved quality of life and increasing residential housing supply in Riyadh.
The contracts were awarded on May 5, 2026, and signed with RCRC on June 22, 2026. Ladun was notified of the contract signing on June 23, 2026.
The company expects the contracts to have a positive impact on its profitability throughout the execution period, the statement said adding that there are no related parties to the deal.
Logo ofLadun Investment Co.
Ladun Investment Co. signed today, June 23, two contracts with the Royal Commission for Riyadh City (RCRC) for infrastructure development projects under Phase 1 of the Real Estate Balance Program, covering the Qirawan–Al Narjis lands and Namar land.
The projects will be executed by Ladun in consortium with Al Ayuni Investment Contracting Co., with a combined contract value of approximately SAR 2.39 billion, including VAT, according to a statement to Tadawul.
The Qirawan–Al Narjis contract is valued at SAR 2.06 billion, while the Namar contract stands at SAR 326.7 million, both inclusive of VAT.
The Qirawan–Al Narjis project covers the design, execution and delivery of infrastructure works for designated sites spanning 3.6 million sqm in Qirawan and 87,000 sqm in Al Narjis. The project includes three years of construction followed by two years of operation and maintenance, for a total contract term of five years.
The Namar project covers the design, execution and delivery of infrastructure works for a 569,933 sqm site, with the same implementation schedule of three years for construction and two years for operation and maintenance.
Both projects require compliance with the requirements of relevant authorities and service providers, including Riyadh Municipality, the National Water Co., Saudi Electricity Co., telecom operators, the Real Estate General Authority (REGA) and the Wafi off-plan sales program.
The scope of work includes preparing detailed master plans and detailed designs, constructing road, water, sewage, electricity and telecommunications networks, designing public spaces and parks, coordinating utility connections, and ensuring the sites are fully infrastructure-ready for handover to citizens.
The company said the projects represent a model for integrating urban planning, sustainability and technology, contributing to improved quality of life and increasing residential housing supply in Riyadh.
The contracts were awarded on May 5, 2026, and signed with RCRC on June 22, 2026. Ladun was notified of the contract signing on June 23, 2026.
The company expects the contracts to have a positive impact on its profitability throughout the execution period, the statement said adding that there are no related parties to the deal.
