Ladun Investment Company,  in consortium with Al Ayuni Investment and Contracting Company, has secured a major infrastructure development contract valued at SAR326.7 million ($87.08 million), according to a Saudi Stock Exchange (Tadawul) filing.

The company said the project, awarded by the Royal Commission for Riyadh City in consortium, covers infrastructure works for the Namar land under Phase One of the Real Estate Balance Program.

The project involves the design, execution, and delivery of infrastructure for a 569,933 sq m land parcel in Namar, southwest of Riyadh. Works will include preparation of detailed master plans and executive designs, along with the development of road networks, water and sewage systems, electricity and telecommunications infrastructure.

In addition, the scope covers the creation of public spaces and parks, coordination with utility providers, and ensuring the land is fully serviced and ready for handover to citizens.

Ladun said the project would be implemented in line with the highest technical and operational standards, while complying with requirements set by multiple authorities, including the Riyadh Municipality, National Water Company, Saudi Electricity Company, telecom operators, and the Real Estate General Authority, as well as the off-plan sales program Wafi.

The development is positioned as an integrated urban model combining planning, sustainability, and technology, aimed at enhancing quality of life and boosting residential real estate supply in Riyadh, Ladun said in the filing. - TradeArabia News Service