Ladun's unit inks SAR 131.1M contract with Red Sea Development

15/02/2024 Argaam
Logo ofLadun Investment Co.

Logo of Ladun Investment Co.

Ladun Investment Co. announced today, Feb. 15, that its subsidiary Built Industrial Co. signed a contract worth SAR 131.1 million (VAT inclusive) with Red Sea Development Co. for the establishment of a school in Turtle Bay Village, according to a statement to Tadawul.

 

The contract, valid for 547 days, entails the construction of a group of buildings, including the main office, kindergarten, primary school, nursery, arts, sports, and security buildings. This is in addition to outdoor infrastructure works, the company said.

 

It added that the related financial impact is positive and will be reflected in its results for 2024 and 2025, noting that there are no related parties to the deal.

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