Ladun Wins SAR 2.39B Riyadh Infrastructure Contracts

Riyadh's population is expected to grow from about 7 million to 15 million by 2030. Development of new districts like the ones covered by these contracts is part of that expansion. Both parcels are slated for mixed-use development with housing, offices and retail.

RCRC has awarded a series of contracts this year for roads, utilities and other infrastructure work as part of the city's broader transformation under Vision 2030. Ladun's two contracts are among dozens of infrastructure awards the commission has issued.

Ladun shares closed at SAR 15.28 on the Tadawul, up 0.8% from the previous session. Trading volume was roughly in line with its three-month average.

The contracts are effective immediately. The company did not disclose specific completion dates.