Saudi Arabia's Jabal Omar Development Company (JODC) announced it has signed a memorandum of understanding (MoU) with an Emirati company to develop projects in the kingdom.
JODC's non-binding MoU with the UAE's Meraas Holding spans for six months.
During the period, both firms will examine the scope to cooperate on developing projects in Saudi Arabia.
In a missive issued to the Saudi bourse, Tadawul, JODC stated that the MoU would have no financial impact on its operations.
Developments related to the MoU would be announced in due course, the company's filing added.