Jabal Omar, Abu Dhabi's Northacre ink MoU for realty projects

15/01/2019 Argaam

 

Jabal Omar Development Co. and Abu Dhabi Financial Group's (ADFG) Northacre on Tuesday signed a memorandum of understanding (MoU) for collaboration and partnerships in realty projects.

 

New projects will be co-developed by London-based Northacre, as part of its expansion strategy across the Kingdom, Jabal Omar's chief executive officer said in a statement.

 

No further details were mentioned about the deal value or planned projects.

 

In April 2018, the Saudi developer and Northacre signed a strategic partnership to explore real estate opportunities in the Kingdom, Argaam reported.

 

Northacre, a wholly-owned subsidiary of ADFG, has designed, developed and marketed over £ 2.2 billion of prime residential sales in London over the last 30 years.

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