Ladun partners with Hawyia Auctions to market Makkah lands

Ladun says as many as 511 land parcels of varying areas and prices will be marketed by Hawiya Auctions under the deal

Ladun Investment Co. signed an agreement with Hawyia Auctions Co. to market its lands in the Al-Usaylah masterplan, which is located in Al-Malqa Suburb, Makkah.

The deal is effective from its signing date today, Nov. 19, until Dec. 31, 2027, Ladun said in a Tadawul filing.

A total of 511 land parcels of varying areas and prices will be marketed by Hawiya Auctions, spanning a total of 408,537 square meters. The plots will be sold in multiple phases, targeting sales exceeding SAR 1 billion.

It noted that the contract value is determined based on a percentage of the sales commission.

The contractual term is 25 months and 11 days, said the company, adding that there are no related parties involved.

Ladun also noted that a positive impact is expected by generating revenues from the land sales, extending until the end of the contractual duration.