For inquiries
Riyadh, Saudi Arabia
On October 15, Inmar Real Estate Development and Investment Company, listed in the Saudi market, signed a memorandum of understanding with Visions of the Holy Mosque Company, which is wholly owned by the Public Investment Fund, to discuss investment and development cooperation opportunities in an integrated real estate project in the central region of Mecca.
The company confirmed that the memorandum aims to study the opportunities for cooperation between the two parties and the possible investment arrangements for the project, provided that the details are determined as agreed by the parties later, according to the company’s statement on “Tadawul Saudi”.
The duration of the memorandum is one year from the date of its entry into force or until the signing of the final agreements
Inmar revealed that proceeding with the potential deal is subject to the completion of the necessary internal approvals, and the negotiation and signing of the final agreements, stressing that the financial impact of the project has not yet been determined.
It is noteworthy that the term of the memorandum is one year from the date of its entry into force on October 15, 2026, or until the signing of the final agreements, whichever is earlier, unless the parties agree otherwise. Either party has the right to terminate it under a prior written notice of not less than 30 days, and the company has confirmed that it will announce any material developments related to the MOU.
For more Information contact: www.dxrprop.ae
Call/WhatsApp: +971501090635
Email: alnashra2013@gmail.com
– To write a special article about the name of your organization or company, you can write to the following email: