| Element List | Explanation |
|---|---|
| Introduction | Announcement by Ladun Investment Company regarding the award of the First Package Development Project (Al Qirawan – Al Narjis) under the Real Estate Balance Program – Phase One, in consortium with Al Ayuni Investment and Contracting Company, by the Royal Commission for Riyadh City, with a total value of SAR 2,063,594,338.76 (inclusive of VAT). |
| Date of Award | 2026-05-05 Corresponding to 1447-11-18 |
| Counterparty | Royal Commission for Riyadh City |
| Project Value | SAR 2,063,594,338.76 (inclusive of VAT) |
| Expected Date for Signing the Contract | 2026-05-21 Corresponding to 1447-12-04 |
| Project Details | This project includes the design, execution, and delivery of infrastructure works for the specified sites (Al Qirawan: 3.6 million sqm – Al Narjis: 87,000 sqm), in accordance with the highest technical and operational standards, while meeting the requirements of the relevant authorities (Riyadh Municipality, National Water Company, Saudi Energy Company, telecommunications companies, Real Estate General Authority, off-plan sales program “Wafi”, and other service providers). The scope of work includes the preparation of the detailed master plan and detailed executive designs; the implementation of road, water, sewage, electricity, and telecommunications networks; the design of public realm spaces and parks; coordination and integration of utility connections; and ensuring full readiness of the land for delivery to citizens with complete infrastructure. The project represents a model of integration between urban planning, sustainability, and technology, contributing to improving quality of life and increasing the supply of residential real estate in the city of Riyadh. |
| Related Parties | NA |
