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Article: MoU signed for Jazan investments.
- Article from:
- Gulf Industry
- Article date:
- February 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Al-Khabeer Merchant Finance Corporation, a leading provider of a full range of Shariah-compliant financial products and services in Saudi Arabia, has announced it recently signed an MoU with Jazan Development Co involving the allocation of SR400 million ($106.8 million) for real estate investments within Jazan Economic City. Farouq Fouad Ghulam, Al-Khabeer's executive partner and head of the Asset Management Division, and Sheikh Saleh Mohamed Bin Laden, the vice president of Saudi Bin Laden Group representing Jazan Co, formally signed the MoU. Jazan Economic City is a mixed-use social, economic and agro-industrial development located along the Red Sea, 60 km northwest of ...