Riyadh - Mubasher: Ladun Investment Company, in partnership with Al Ayuni Investment and Contracting Company, has been awarded the Khalidiyah Informal Settlement Redevelopment Project in Makkah.
The project was awarded by the Royal Commission for Makkah City and Holy Sites on 31 May 2026, according to a bourse filing.
Meanwhile, the final contract is expected to be signed on 9 June 2026.
It is also worth noting that the project’s targeted sales value exceeds SAR 6 billion.
The development will be executed through a closed-ended private real estate investment fund, which will be structured in line with the Investment Funds Regulations issued by the Capital Market Authority (CMA) and other applicable regulations.
Meanwhile, the fund will oversee infrastructure development works, land subdivision, and subsequent plot sales, with the developer acting as project marketer before the fund’s planned exit strategy.
The project scope includes the design and implementation of comprehensive infrastructure works, such as roads, water, sewage, electricity, and telecommunications networks, as well as public spaces and parks.
It also covers the preparation of detailed master plans and engineering designs, ensuring full utility servicing of land plots.
Moreover, the development aims to align with a broader urban vision that prioritizes quality of life, sustainable planning, and preservation of Makkah’s urban identity.
In May 2026, the board members of Ladun Investment approved signing a Sharia-compliant credit facility agreement with Saudi Awwal Bank (SAB) for a total amount of SAR 154.76 million.
