Ladun Investment signs agreement to develop residential project in Riyadh

Ladun Investment Company has signed a real estate development agreement with the National Housing Company (NHC) to develop the Al-Mashraqiyah Villas in Riyadh, according to a stock exchange filing.

As part of the arrangement, Ladun awarded a USD 84.5 mln construction contract to its subsidiary, Built Industrial Company, which will serve as the main contractor.

The project includes 416 residential villas within the Afyaa Al-Mashraqiyah development, based on four approved architectural designs.