Ladun Investment Company has signed two contracts with the Royal Commission for Riyadh City (RCRC) to develop infrastructure for projects under the first phase of the Real Estate Balance Programme.

The contracts were awarded in May 2026.
 
The projects will be executed in collaboration with Al Ayuni Investment & Contracting Company at a total value of 2.4 billion Saudi riyals ($639.09 million), the developer said in two separate statements to the Saudi stock exchange.

Al Qirawan–Al Narjis

The Al Qirawan–Al Narjis lands project covers the design, execution and delivery of infrastructure works for designated sites spanning 3.6 million square metres (sqm) in Al  Qirawan and 87,000 sqm in Al Narjis.

The project includes three years of construction followed by two years of operation and maintenance (O&M). The contract is valued at SAR 2.1 billion.
 
Namar project

The Namar project, valued at SAR 327 million, covers the design, execution and delivery of infrastructure works for a 569,933 sqm site, with a three-year construction timeline and two years for O&M.
  
The scope of work includes preparing master plans, constructing roads, water, sewage, electricity and telecommunications networks, designing public spaces and parks, coordinating utility connections and ensuring the sites are fully infrastructure-ready for handover to citizens.
 
The projects represent a model for integrating urban planning, sustainability and technology, contributing to improved quality of life and increasing residential housing supply in Riyadh, the statements said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.