Ladun Investment Company has secured a contract to construct over 400 residential villas as part of the Mishraqiya Project in Riyadh, Saudi Arabia.
Awarded by National Housing Company (NHC), the contract is valued at SR446m ($119m) excluding VAT, the Saudi Arabian real-estate investment company said in a statement.
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The project will occupy around 100,440m² of land within this extensive development.
Ladun Investment Company said that further details regarding the project will be disclosed as developments occur.
These updates will include the signing of the subdevelopment agreement with NHC.
In July this year, Ladun Investment Company announced the signing of a contract for the implementation of a mixed-use project as part of the wider Abha Walk Project in Saudi Arabia.
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By GlobalDataThe SR90.5m contract, which also excludes VAT, was signed with Arab Markets Company.
The mixed-use project is being developed by Built Industrial Company, a subsidiary of Ladun.
The six-storey complex will be located on King Fahd Road in the city of Abha.
In a Saudi stock exchange filing, the company announced that the site’s ground floor, first floor, and a portion of the second floor will be designated for retail stores.
In April this year, meanwhile, Ladun signed a partnership agreement with Cheval Collection for the construction and operation of CHEVAL LADUN LIVING in Riyadh.
The agreement marked Cheval’s first venture into the Saudi Arabian market.
CHEVAL LADUN LIVING will feature a tower with hotel apartments on the aforementioned King Fahd Road.
