Laden Investment Company announced the signing of an agreement to develop 260 housing units in partnership with the private sector in the city of Jizan in the Kingdom of Saudi Arabia, with a total area of about 44.02 million square meters.
Laden Investment said in a statement on Tadawul, today, Sunday, that the value of the contract amounts to 162 million riyals, excluding value-added tax, explaining that the contract period is 30 months after the start of the actual implementation.
Laden Investment stated in the stock exchange statement that the infrastructure and buildings will be implemented through Al-Manjouf Contracting and Maintenance Company, using the off-plan sales system model.
As for the financial impact and the period that will be reflected in it, Laden Investment said that the project is expected to have a positive impact on the company's results, starting from the fourth quarter of 2023, and will continue until the end of the project, which is expected to be completed in 2025.
Laden Investment stated that the project aims to centralize the company in the Jizan region, where the company owns a number of properties to be developed in the city of Jizan in the Kingdom.
