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Jabal Omar inks MoU with UAE developer to build in Saudi

The non-binding agreement, which extends for six months, will see the Saudi development giant explore avenues for cooperation with Meraas Holding

Jabal Omar Development Company's MoU with the UAE's Meraas Holding will see the firms explore cooperation prospects to build in Saudi [representational image].
Jabal Omar Development Company's MoU with the UAE's Meraas Holding will see the firms explore cooperation prospects to build in Saudi [representational image].

Saudi Arabia's Jabal Omar Development Company (JODC) announced it has signed a memorandum of understanding (MoU) with an Emirati company to develop projects in the kingdom. 

JODC's non-binding MoU with the UAE's Meraas Holding spans for six months. 

READ: Jabal Omar inks MoU for hotel staff homes in Saudi

During the period, both firms will examine the scope to cooperate on developing projects in Saudi Arabia. 

In a missive issued to the Saudi bourse, Tadawul, JODC stated that the MoU would have no financial impact on its operations. 

Developments related to the MoU would be announced in due course, the company's filing added. 

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Construction Week - Issue 745
Jun 30, 2019