Sumou Real Estate inks MoU with Emaar EC

Sumou Real Estate Co. signed on Sept. 13 a memorandum of understanding (MoU) with Emaar the Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC).

The MoU is valid for six months and aims to discuss ways of joint cooperation to study the available opportunities to develop lands in the city, in addition to finding innovative ways to finance these projects, according to a statement to Tadawul.

There is no financial impact of this agreement in the meantime, and no related parties are included, the statement added.

Source: Arqaam