Logo of Inmar Co. for Real Estate Development and Investment
Inmar Co. for Real Estate Development and Investment signed on Oct. 15 a memorandum of understanding (MoU) with Rua AlHaram AlMakki Co., wholly owned by the Public Investment Fund (PIF), to explore investment and development cooperation opportunities for an integrated real estate project in the central area of Makkah. 
In a statement on Tadawul, the company said the MoU includes studying potential investment arrangements between the two parties, subject to subsequent agreement, obtaining the necessary internal approvals, and negotiating and signing definitive agreements.
The MoU is valid for one year from its effective date, or until the definitive agreements are signed, whichever comes first, unless otherwise agreed by the two parties. Either party may terminate the MoU by providing at least 30 days’ prior written notice.
The company said the financial impact will be determined at a later date, noting that there are no related parties to the deal.
Inmar will announce any material developments related to the MoU, the statement added.
Logo of Inmar Co. for Real Estate Development and Investment
Inmar Co. for Real Estate Development and Investment signed on Oct. 15 a memorandum of understanding (MoU) with Rua AlHaram AlMakki Co., wholly owned by the Public Investment Fund (PIF), to explore investment and development cooperation opportunities for an integrated real estate project in the central area of Makkah.
In a statement on Tadawul, the company said the MoU includes studying potential investment arrangements between the two parties, subject to subsequent agreement, obtaining the necessary internal approvals, and negotiating and signing definitive agreements.
The MoU is valid for one year from its effective date, or until the definitive agreements are signed, whichever comes first, unless otherwise agreed by the two parties. Either party may terminate the MoU by providing at least 30 days’ prior written notice.
The company said the financial impact will be determined at a later date, noting that there are no related parties to the deal.
Inmar will announce any material developments related to the MoU, the statement added.
