Inmar Signs MoU with Rua AlHaram AlMakki for a Project in Makkah

Inmar Real Estate Development and Investment Company signed a one-year Memorandum of Understanding (MoU) with Rua AlHaram AlMakki Company, wholly owned by the Public Investment Fund (PIF), to explore investment and development cooperation opportunities regarding an integrated real estate project in the central area of Makkah, according to a company statement on Tadawul reported by Argaam.

The MoU was signed on October 15, 2026, and announced by the company on October 21. It is limited to studying possible investment arrangements between the two parties as agreed upon later, subject to obtaining necessary internal approvals, negotiating, and signing final agreements.

The company stated that the MoU duration is one year from its effective date on October 15, 2026, or until the signing of final agreements, whichever comes first, unless agreed otherwise by both parties. Either party has the right to terminate it with a prior written notice of at least 30 days.

It confirmed that the financial impact will be determined later, noting that there are no related parties, and that it will announce any material developments regarding the MoU.

What do these terms mean?

MoU: A non-legally binding document in which parties declare their intention to cooperate on a project or deal before moving to a formal agreement.

Disclosure: A listed company's announcement of material information to investors and regulatory bodies in a timely manner.

Public Investment Fund: The Saudi sovereign wealth fund, which invests in domestic and international projects on behalf of the state.