Riyadh — Mubasher: Inmar Real Estate Development and Investment Company has signed a memorandum of understanding (MoU) with Rua Al Haram Al Makki Company to collaborate on a potential integrated development project within the central area of Makkah.

Rua Al Haram Al Makki is a closed Saudi joint-stock company wholly owned by the Public Investment Fund (PIF).

The agreement, signed on 15 October, establishes a framework for both parties to explore investment and development opportunities and study possible investment arrangements.

The progression of the partnership remains subject to obtaining necessary internal approvals and the negotiation of final binding agreements.

The MoU is effective for a duration of one year starting from 15 October, or until the execution of final agreements, whichever occurs first.

Either party maintains the right to terminate the memorandum by providing written notice of at least 30 days.

Inmar stated that the financial impact of the potential transaction will be determined at a later stage, and the company will disclose any material developments as they arise.

The listed company’s board of directors earlier recommended a new dividend policy for 2027,2028, and 2029.