Saudi developer Jabal Omar signs property deal with Shuaa:
"One of Saudi Arabia’s largest developers, Jabal Omar, has signed a preliminary agreement with the UAE’s Shuaa Capital to jointly manage real estate investment funds in the Kingdom.
The two companies are looking at ways to work together to create and manage real estate funds that support new developments in prime property hotspots in the Kingdom, according to a Dubai Financial Market (DFM) filing.
“Shuaa’s established record in managing real estate funds and developments within the Kingdom, coupled with Jabal Omar’s unique reputation and achievements in building prime mega developments, will help create a favorable and mutually-beneficial partnership model for delivering the highest quality developments and achieve returns for stakeholders,” said Jassim Alseddiqi, chairman of Shuaa Capital, in the DFM filing."
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