Muscat Unit Teams with Riyadh Holding on Mahdia Land Development

Musca Investment Company, through its affiliate "Musca First for Real Estate Development," has signed a non-binding memorandum of understanding with Riyad Capital to explore cooperation opportunities and assess the potential development of a land owned by Riyad Capital in the Mehdia District of Riyadh. The memorandum aims to establish a framework for collaboration and evaluate the project's feasibility from technical and financial perspectives, including studying development models and suitable investment structures. The agreement is set to last for one calendar year, during which necessary studies will be conducted prior to taking any execution steps or signing final agreements. Currently, there is no financial impact from signing the memorandum, as it is in the study and evaluation stage.

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