Jumeirah Group has signed a Memorandum of Understanding with Shuaa Capital Saudi Arabia for the development of hospitality projects in the Kingdom.
The hospitality projects developed will be operated by Jumeirah Group, Gulf News reported.
Gerard Lawless, CEO and president of Jumeirah Group, said Saudi Arabia is one of the group's key markets - with their hotels in Dubai and various other parts of the world receiving many Saudi guests.
Omar Al Jaroudi, CEO of Shuaa Capital Saudi Arabia, insisted this cooperation reaffirms Shuaa's established accomplishments in the field of hospitality investments in various parts of the Kingdom.
Al Jaroudi also expressed hope that this agreement with JG would lead to greater commercial opportunities that will benefit both companies and investors alike.