Ladun signs SAR 162 mln deal to develop 260 housing units in Jazan

Logo of Ladun Investment Co.

Ladun Investment Co. signed, on Jan. 5, an agreement to develop 260 residential units in Jazan at a total value of SAR 162 million, excluding value-added tax. 

In a statement to Tadawul, the company pointed out that the project, covering an area of 44,020 square meters (sqm), will be implemented in partnership with the private sector. 

 The infrastructure and buildings will be constructed by Al-Manjoof Contracting Co., as per the off-plan sales model. 

The contract is valid for 30 months from the start date of actual execution, the statement added.  

The project aims to enhance the company’s position in Jazan region, where it owns several real estate properties that need to be developed.   

Moreover, Ladun expected a positive financial impact on its results starting from Q4 2023 until the end of the project by 2025.