Jabal Omar, Shuaa sign MoU to develop real estate projects

08/05/2018 Argaam

 

Saudi Arabia's Jabal Omar Development Company and Dubai's Shuaa Capital on Tuesday signed a memorandum of understanding (MoU) to launch and manage real estate investment vehicles in the Kingdom.

 

The two companies will explore opportunities for collaboration and partnerships associated with new developments in Makkah and across the Kingdom.

 

They will also cooperate towards creation and management of real estate funds directed towards managing the development and expansion of centrally located real estate hotspots in the Kingdom.

 

 Tadawul-listed Jabal Omar Development Company is the developer of Jabal Omar, a multi-use real estate mega development project close to The Grand Mosque of Makkah.

 

Dubai Financial Market-listed Shuaa Capital's subsidiary Shuaa Capital Saudi Arabia has been successfully running a series of real estate funds and managing the development of prime projects in Jeddah, Riyadh and Dammam since 2008.

 

The company recently announced the ground-breaking SAR 1.4 billion mixed-use development in Wadi Al Hada in Riyadh.

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