The Royal Commission for Riyadh City has awarded SAR2.39 billion in contracts to a Ladun Investment Company and Al Ayuni Investment and Contracting Company joint venture to deliver infrastructure across key development zones. The initiative is intended to increase serviced residential land availability and advance urban growth objectives under Saudi Vision 2030.
The Royal Commission for Riyadh City (RCRC) has signed contracts valued at SAR2.39 billion with a joint venture comprising Ladun Investment Company and Al Ayuni Investment and Contracting Company to deliver major infrastructure works under the first phase of the Real Estate Balance Program in Riyadh.
The agreements cover the development of infrastructure across land plots in Al Qirawan, Al Narjis and Namar. Under the five-year contracts, the joint venture will undertake design, construction, operation and maintenance activities, including a three-year build-out period followed by two years of operational support and maintenance, according to official disclosures.
The project is designed to expand the supply of development-ready residential land in the Saudi capital, addressing long-term housing demand while supporting broader urban planning objectives. Planned works include road networks, water distribution systems, sewage infrastructure, electricity networks, telecommunications facilities, public spaces and parks, along with utility integration and service connections.
The initiative is expected to generate opportunities across construction, engineering, utilities, telecommunications and real estate sectors. Coordination will involve multiple public entities and service providers, reflecting the scale of infrastructure integration required to prepare the sites for future residential development.
RCRC is the authority responsible for strategic planning and development initiatives in Riyadh. Ladun Investment Company and Al Ayuni Investment and Contracting Company are Saudi-based firms active in construction, infrastructure and development projects across the Kingdom.
For investors and developers, the contracts signal continued public-sector spending on urban infrastructure and housing-related assets, reinforcing Riyadh's position as a key market for real estate and construction investment under Saudi Vision 2030.
About GlobeNewsInfo
GlobeNewsInfo.com is a business news platform providing latest updates on global business developments, projects, and contract opportunities across diverse sectors and regions. The platform is designed to serve as a trusted source of information for companies, investors, and professionals worldwide.