JEDDAH, January 2019 – Jabal Omar Development Company (JODC), one of the biggest real estate developers in the Kingdom of Saudi Arabia and the Saudi Stock Exchange (Tadawul), recently signed a Memorandum of Understanding (MoU) with the British Company, Northacre a subsidiary of Abu Dhabi Financial Group. The MoU was signed by the CEO of JODC Mr. Yasser Bin Faisal Al-Sharif and the CEO of Northacre Nicolo Barateeri.

This MoU aims to enable Northacre to co-develop Jabal Omar’s projects, as part of Jabal Omar’s strategy to expand its footprint outside Makkah.

Commenting on the signing, Mr. Yasser Faisal Al-Sharif said “Northacre is a strong partner that will help us achieve our vision of being the nation’s trusted master developer. With their cutting edge skills we will co – develop new, innovative technologies for future projects and utilize their experience to further develop our Saudi talent.”

This reflects JODC’s sound reputation not only locally and regionally, but also at the global level.