Riyadh – Mubasher: Jabal Omar Development on Sunday announced that it has signed a non-binding memorandum of understanding (MoU) with Dubai-based Meraas Holding.
The deal was signed on Thursday, 19 October, the company revealed in a statement to the Saudi Stock Exchange (Tadawul).
Under the six-month deal, the two companies will examine means of cooperation to develop real estate projects in Saudi Arabia, Jabal Omar added.
There will be no financial impact to this MoU, the Saudi company highlighted, indicating that any further developments will be announced in due time.
Meraas constantly aims to develop new and innovative ideas in the investment, tourism, hospitality, healthcare, technology, entertainment, education sectors, the statement showed.
