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Saudi’s Ladun Investment Company has awarded a contract to develop 260 residential units in Jazan city at a total value of 162 million Saudi riyals ($43.10 million).
The project covers an area of 44,020 square metres, the company said in a statement to the Saudi stock exchange.
Al-Manjoof Contracting Company will construct the infrastructure and buildings within 30 months from the date of actual execution, the statement added.
In December 2022, Ladun Investment obtained a non-revolving facility worth SAR 750 million from Bank Albilad to finance future projects and make acquisitions in line with its growth plans.
(Writing by D Madhura; Editing by Anoop Menon)
