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The Ladun-Al Ayuni consortium formally signed SAR 2.4 bn worth of infrastructure contracts with the Royal Commission for Riyadh City, building on contract awards in May, according to two Tadawul disclosures. The larger contract — SAR 2.1 bn — covers Al Qirawan (3.6 mn sqm) and Al Narjis (87k sqm); the second — SAR 326.7 mn — covers Namar (570k sqm).
The timeline: Both contracts run five years, including three years of construction followed by two years of operation and maintenance, with scope spanning roads, water, sewage, power, and telecoms networks, alongside public spaces. Land will be handed over infrastructure-ready to citizens under the Real Estate Balance Program's first phase.
IN CONTEXT- Saudi Arabia’s infrastructure pipeline hit a new peak in May, with project awards logging SAR 30 bn. Infrastructure took 55% of total awards, with Aseer leading the pack and Riyadh coming in second.
Two new hotel funds
Yaqeen Capital has launched the shariah-compliant Yaqeen Madinah Hotel Fund, targeting a total size of SAR 600 mn, according to a Tadawul disclosure. The private, closed-ended real estate development fund will bankroll the construction of two hotels, branded residential apartments, and retail spaces in the holy city.
AND- Osool & Bakheet Investment launched its Ashaad Al Hamra Hotel Development Fund, with a target of SAR 713 mn, according to a Tadawul disclosure. The closed-ended fund will acquire land in Al Khobar to develop a luxury hotel project.
Why it matters: Real estate funds are proving to be an engine for Saudi asset managers this year. Earlier this year, we saw Arabian Dyar and Al Rajhi Capital launch an SAR 4.5 bn real estate fund to develop residential and hospitality projects in Makkah and Madinah.
FinMin closes SAR 10.6 bn June sukuk issuance
The Finance Ministry wrapped up its SAR 10.6 bn local sukuk offering for June 2026, according to a statement from the National Debt Management Center. The issuance, which comes under the government’s SAR-dominated sukuk program, came in six tranches ranging from three to 15 years.
