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SHUAA Capital, Jumeirah Group Sign MOU To Develop Hospitality Projects In Saudi Arabia
(24 November 2015)

 

SHUAA Capital Saudi Arabia and Jumeirah Group today announced the signing of a Memorandum of Understanding (MoU) to form a strategic relationship to jointly explore opportunities in Saudi Arabia in order to develop hospitality projects to be operated under the Jumeirah brand.

Gerald Lawless, President and Group CEO, Jumeirah Group said, "Saudi Arabia is of prime importance to the Jumeirah Group and each year we are delighted to welcome so many guests from the Kingdom to our
existing portfolio of Jumeirah Group hotels in Dubai and worldwide. We now seek expansion for our hotels, both Jumeirah Stay Different and our new lifestyle hospitality brand Venu, in Saudi Arabia and this MOU with SHUAA Capital Saudi Arabia further enables us to explore opportunities to bring our unique brands and experiences to the
Kingdom. SHUAA has a strong performance for hospitality development in this market, and we look forward to progressing our relationship with SHUAA, and to working closely with their expert team, as we continue our expansion in the GCC region."

Omar Al Jaroudi, SHUAA Capital Saudi Arabia CEO said, "SHUAA Capital Saudi Arabia is proud to announce this strategic business relationship with Jumeirah Group, a leading international hospitality company with an outstanding portfolio in Europe, the Middle East, and Asia. This relationship represents not only the affirmation of our Company's in-depth knowledge and positive outlook towards the KSA market, but also our established record of accomplishments in hospitality-related investments in different parts of the Kingdom. We are optimistic that
this MOU with Jumeirah Group will lead to greater commercial opportunities for the benefit of both companies and our investors."
 

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