Riyadh – Mubasher: Built Industrial Company, a subsidiary of Ladun Investment Company, has been awarded a contract valued at SAR 189.48 million from Jazan City for Primary and Downstream Industries of the Royal Commission for Jubail and Yanbu (RCJY).
Upon the joint agreement, Built Industrial will develop housing units for families in the residential area of Sector (1), according to a bourse filing.
The subsidiary will be responsible for the construction of 22 buildings which will comprise 146 residential units designated for families.
Ladun Investment noted that the project was awarded on 6 December 2023, while the signing date is expected to be 7 January 2024.
On 15 November 2023, Built Industrial won two projects from Jazan City for Primary and Downstream Industries at a total value of SAR 273.06 million.
Earlier in October this year, the subsidiary of Ladun Investment was also awarded a project contract from RCJY’s Jazan at a value of SAR 102.57 million.