Riyadh: Mosanada Facilities Management Services announced continued progress on a joint venture initiative in the Kingdom of Saudi Arabia as part of its regional expansion plans.
According to Qatar News Agency, this step aims to develop and provide specialized facilities management services for projects in the sports, entertainment, and events sectors in Saudi Arabia, through an operational structure based on partnership with a local partner that has a well-established position and experience in the market.
Mosanada is working with its partner to complete the proposed partnership procedures and proceed with the preparation of the incorporation documents and related preparatory work. The completion of the partnership's establishment is still subject to meeting the applicable regulatory and legal requirements in the Kingdom of Saudi Arabia.
The company will keep the market informed of any material developments relating to the progress of the incorporation and commencement of operations, in accordance with applicable disclosure requirements.