Ladun unveils $167.46mln project with Saudi government

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Riyadh – Ladun Investment Company announced the signing of a project deal between its subsidiary Built Industrial Company and the Ministry of Municipalities and Housing on 22 July 2024.

Under a total deal value of SAR 628.09 million, Ladun’s subsidiary will expand the headquarters (HQ) office of the Saudi ministry in Riyadh, according to a bourse disclosure.

Built Industrial was awarded the contract on 24 January this year to carry out the assigned works over 48 months. Meanwhile, the financial impact of the deal is expected to reflect starting from the fourth quarter (Q4) of 2024 and until the expiration of the contract.

Ladun elaborated on the project details by saying: “The expansion consists of eight concrete floors, including two underground parking floors and connected to the existing building by a pedestrian bridge at the level of the third floor.”

In addition, the project implementation includes all structural and architectural works, electrical, and mechanical systems for buildings A, B and coordination of the general site according to the project documents of plans, specifications, and schedules quantities.

It is worth noting that Built Industrial recently won a contract worth SAR 120.57 million from the Royal Commission for Jubail and Yanbu (RCJY) to construct buildings and warehouses for the operations and maintenance departments in Jazan city.