Ladun signs SAR 628.1M contract with Ministry of Municipalities and Housing

Logo of Ladun Investment Co.

Ladun Investment Co. said its subsidiary, Built Industrial Co., signed today, July 22, a project contract worth SAR 628.09 million, including VAT, with the Ministry of Municipalities and Housing to expand the ministry’s headquarters (HQ) in Riyadh.

 

The contract duration is 48 months, the company said in a statement to Tadawul.

 

For more news and details on the projects

 

The new HQ expansion is located at the intersection of King Fahd Road and King Abdullah Road in Riyadh.

 

The expansion includes eight concrete floors, with two underground parking levels, connected to the existing building by a pedestrian bridge on the third floor.

 

The project covers all construction, architectural, electrical, and mechanical works for buildings A and B, as well as site coordination according to the project's plans, specifications, and quantity schedules, the statement added.

 

The relevant financial impact is expected to appear starting Q4 2024 throughout the project's period. There are no related parties to the contract.
In January, Ladun announced that Built Industrial won a project worth SAR 628.1 million, including VAT, from the Ministry of Municipal and Rural Affairs and Housing to expand the ministry's HQ in Riyadh, according to data compiled by Argaam. 

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