A memorandum of understanding has been signed by Shuaa Capital Saudi Arabia and Jumeirah Group signalling the start of a strategic partnership.
Signed on Monday, the MoU will mean the exploration of investment opportunities for developing hospitality projects in Saudi Arabia, to be operated by Jumeirah Group.
Speaking on the signing, Jumeirah Group CEO and president Gerard Lawless said: "Saudi Arabia is one of the group’s key markets, and that Jumeirah Group hotels in Dubai and various parts of the world receive many Saudi guests."
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Shuaa Capital Saudi Arabia CEO Omar Al Jaroudi, said that this cooperation with the group reaffirms Shuaa’s in-depth knowledge and positive outlook for Saudi Arabia’s market and its promising growth, also indicating Shuaa’s established accomplishments in the field of hospitality investments in various parts of Saudi Arabia.
Al Jaroudi added that this agreement with Jumeirah Group would lead to greater commercial opportunities benefiting both companies and investors alike.
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