| Element List | Explanation |
|---|---|
| Introduction | Ladun Investment Company Announces the Signing of a Contract for the Infrastructure Development Project for the Al-Qirawan–Al-Narjis Lands under the Real Estate Balance Program – Phase One, to be executed by Ladun Investment Company in joint venture with Al-Ayuni Investment and Contracting Company, with a contract value of SAR 2,063,594,339 (inclusive of VAT). |
| Date of Announcement of the Award | 2026-05-05 Corresponding to 1447-11-18 |
| Contract Subject Matter | Infrastructure Development of the Al-Qirawan and Al-Narjis Lands under the Real Estate Balance Program – Phase One. |
| The Entity with Which the Contract was Signed | The Royal Commission for Riyadh City |
| Date of Signing the Contract | 2026-06-22 Corresponding to 1448-01-07 |
| Contract Value | SAR 2,063,594,339 (inclusive of Value Added Tax). |
| Contract Details | This project involves the design, execution, and delivery of infrastructure works for the designated sites (Al-Qirawan: 3.6 million square meters and Al-Narjis: 87 thousand square meters) over a three-year construction period, followed by two years of operation and maintenance, bringing the total contract duration to five years. The project will be implemented in compliance with the requirements of the relevant authorities, including the Riyadh Region Municipality, National Water Company, Saudi Electricity Company, telecommunications providers, the Real Estate General Authority, the Off-Plan Sales Program (Wafi), and other service providers. The scope of work includes the preparation of detailed master plans and engineering designs, construction of road, water, sewage, power, and telecommunications networks, design of public spaces and parks, coordination and connection to utility services, and ensuring that the lands are fully infrastructure-ready for handover to citizens. The project represents a model for integrating urban planning, sustainability, and technology, contributing to enhanced quality of life and increasing the supply of residential real estate in Riyadh. |
| Contract Duration | 5 years |
| Financial Impact and the Relevant Period | Positive impact on the Company's profitability throughout the project execution period. |
| Related Parties | NA |
| Additional Information | The Company was notified of the contract signing on 23 June 2026. |
Ladun Investment Company Announces the Signing of a Contract for the Infrastructure Development Project for Al-Qirawan and Al-Narjis Lands under the Real Estate Balance Program – Phase One, in Joint Venture with Al-Ayuni Investment and Contracting Company
AI Summary
- Ladun Investment Company signed a contract with the Royal Commission for Riyadh City for phase one of the Al-Qirawan and Al-Narjis infrastructure development project.
- The contract is valued at SAR 2,063,594,339 (inclusive of VAT) and will be executed in a joint venture with Al-Ayuni Investment and Contracting Company.
- The project scope covers approximately 3.68 million square meters with a total duration of five years, comprising three years of construction followed by two years of operation and maintenance.
- The company anticipates a positive financial impact on its profitability throughout the project execution period.
