Ladun Investment Company has 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.
The SR90.5m ($24.1m) contract, which 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 Tadawul (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.
The rest of the second floor, along with the entire third through sixth floors, will be allocated for office spaces.
The scope of the contract covers construction, architectural works, and electrical and mechanical systems.
This project is set for an 18-month completion timeline.
Ladun will execute all tasks in line with project documents, including drawings, specifications, and a bill of quantities.
The financial impact of the project is expected to be seen in Ladun's financial results for 2025 and 2026, extending until project completion.
Last November, Ladun signed an investment agreement with Musharaka Capital to set up a real-estate development fund worth SR1.45bn for a project within the Jabal Omar development in Makkah, Saudi Arabia.
In October 2024, Ladun partnered with Mawten Real Estate Company to co-develop a $220m mixed-use project in Makkah.
In April 2024, Ladun signed a partnership with Cheval Collection for the construction of the Cheval Ladun Living project in Riyadh.
"Ladun signs contract for mixed-use project in Saudi Arabia" was originally created and published by World Construction Network, a GlobalData owned brand.
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