Jabal Omar Development Co. has inked a six-month non-binding memorandum of understanding (MoU) with Dubai-based Meraas Holding, the Saudi company said in a statement to Tadawul.
The two companies will discuss cooperating on real estate projects in Saudi Arabia.
Meraas aims to develop innovative concepts for various sectors including investment, tourism, hospitality, healthcare, technology, entertainment, and education.
There are no related parties to the MoU and no relevant financial impact at present, Jabal Omar said.
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