Ladun signs SAR 446M real estate development agreement with NHC

Ladun Investment Co. signed on Sept. 16 a real estate sub-development agreement with National Housing Co. (NHC) to develop Al-Mashraqia Villas in Riyadh, with an estimated contract value of SAR 446 million, excluding VAT, according to a statement to Tadawul.

Under the 42-month contract, Ladun will develop over 400 residential villas, subject to final design approvals, on a land plot spanning nearly 100,440 square meters.

The financial impact of the agreement is foreseen to begin in 2026 and continue until project completion, the statement noted, adding that there are no related parties to the deal.

Ladun was recently awarded the development of Al-Mashraqia Villas project in partnership with NHC, Argaam data showed.