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Ladun Investment has signed an agreement with Al Rajhi Ekhwan to develop a land parcel in Mecca, with the estimated development cost pegged at SAR 33.7 million. The contract places Ladun Investment in charge of executing the project, though detailed specifications have not been disclosed. The deal adds to Ladun's development portfolio in Saudi Arabia and reflects continued real estate activity in Mecca, a tightly regulated market driven by pilgrimage-related demand and long-term urban infrastructure planning.
Ladun Investment has entered into a development agreement with Al Rajhi Ekhwan to develop a land parcel located in Mecca, strengthening its exposure to real estate projects in one of Saudi Arabia's most strategically significant cities. The company disclosed that the contract covers the development of land owned or associated with Al Rajhi Ekhwan, with Ladun Investment undertaking the execution of the project. Advertisement
The estimated cost of developing the land has been placed at SAR 33.7 million. While specific details related to the project's design, timeline, or end use were not disclosed, the agreement highlights continued development activity in Mecca, where land availability is limited and demand remains closely linked to religious tourism and pilgrimage-related infrastructure.
Ladun Investment has been active in the Saudi real estate and construction space, with a focus on development contracts and project execution across residential, commercial, and mixed-use assets. Mecca has remained a priority market due to sustained government-backed infrastructure investment and long-term urban planning initiatives aimed at improving capacity and services for pilgrims.
Al Rajhi Ekhwan is part of the broader Al Rajhi business group, which has longstanding interests across real estate, construction, and investment activities in the Kingdom. Partnerships with established local entities have historically played a key role in facilitating land development in regulated and high-value zones such as Mecca.
The agreement aligns with ongoing development trends in the holy city, where projects are typically structured around controlled planning norms, phased construction, and long-term asset value rather than short-term sales activity.
Source Reuters
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