| Element List | Explanation |
|---|---|
| Introduction | Ladun Investment Company Announces the Award of the Khalidiyah Informal Settlement Redevelopment Project in Makkah to the Consortium of Ladun Investment Company and Al-Ayuni Investment and Contracting Company by the Royal Commission for Makkah City and Holy Sites. |
| Date of Award | 2026-05-31 Corresponding to 1447-12-14 |
| Counterparty | The Royal Commission for Makkah City and Holy Sites. |
| Project Value | The project's targeted sales value exceeds SAR 6 billion. |
| Expected Date for Signing the Contract | 2026-06-09 Corresponding to 1447-12-23 |
| Project Details | The scope of the project includes the establishment of a closed-ended private real estate investment fund in compliance with the Investment Funds Regulations issued by the Capital Market Authority and all relevant laws and regulations. The fund's objective will be to execute the infrastructure works for the project land, subdivide it into land plots, and facilitate their sale by the developer, who will be appointed as the project marketer, followed by the fund's exit strategy. The project scope also includes the design, execution, and delivery of infrastructure works in accordance with the highest planning and engineering standards, while achieving a balance between development requirements and preserving the urban and social fabric of the city. This will be carried out in compliance with the requirements of the relevant authorities, including the Royal Commission for Makkah City and Holy Sites, the Makkah Municipality, the National Water Company, the 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 preparing the detailed master plan and detailed engineering designs, implementing road, water, sewage, electricity, and telecommunications networks, designing public spaces and parks, carrying out utility connection and coordination works, and ensuring that the land plots are fully serviced and infrastructure-ready for delivery to customers. This project is driven by a comprehensive development vision that places people and quality of life at the forefront of its priorities through the creation of more organized and sustainable urban environments that respect the unique identity of Makkah, enhance the residential, mobility, and service experience, and safeguard the rights of property owners and residents. |
| Related Parties | NA |