Ladun’s subsidiary inks SAR 348.5M contract with Presidency of State Security

Logo of Ladun Investment Co.

Ladun Investment Co.’s subsidiary, Built Industrial Co., signed a SAR 348.5 million contract with the Presidency of State Security to implement architectural, electrical and mechanical works for a security building at Prince Naif Security City, Riyadh, according to a statement to Tadawul today, April 2.

The related positive financial impact of the project, running for 24 months, will be reflected in the company’s results for 2024 and 2025, it added, noting there are no related parties to the deal.

Last January, Ladun announced that its subsidiary, Built Industrial, was awarded the SAR 348.5 million contract (VAT inclusive) by Presidency of State Security to implement architectural, electrical and mechanical works for a building at the Naif Security Complex in Riyadh, according to Argaam's data.