Saudia Real Estate, a subsidiary of Saudia Group, has signed an agreement with Jasara Program Management Company to establish a framework for collaboration in project development and delivery, supporting national development priorities and contributing to the objectives of Saudi Vision 2030.
A joint venture between Saudi sovereign wealth fund PIF, global engineering major Jacobs and Saudi oil giant Aramco, Jasara was established to elevate the delivery of Social Infrastructure programs in Saudi Arabia.
The two companies will also assess opportunities to support the delivery of development initiatives and projects.
The agreement was signed during the Global Project Management Forum 2026 by Saudia Real Estate CEO Dr Ibraheem Sheerah and Jasara Program Management Company CEO Eng. Mohammed Al Mana.
Innovation and digital transformation are also key areas of co-operation, with a focus on technologies and digital solutions that can strengthen project delivery, enhance operational performance and maximize asset value.
The MoU also includes the exchange of expertise through workshops, forums, conferences and specialist discussions.
Developing national capabilities is another area of focus, including training, professional mentoring, graduate development programs and other capacity-building initiatives.
This extends to strengthening local content and supply chains, while creating greater opportunities for Saudi talent and businesses to participate in future initiatives.
Sheerah said the deal with Jasara brings together its combined expertise in real estate development and project management.
"By exchanging knowledge and applying advanced practices and innovative solutions, we aim to strengthen how projects are planned and delivered. Developing Saudi capabilities and expanding local content will also remain an important part of this collaboration," he stated.
Al Mane said the MoU embodies Jasara's commitment to supporting the kingdom's real estate development journey, through the exchange of knowledge and expertise with Saudia Real Estate in the fields of project management, governance, and innovation.
"We count on this cooperation to achieve added value that serves national development goals and contributes to building distinguished local capabilities in this vital sector," he added.
"Looking ahead, the MoU provides a foundation for Saudia Real Estate and Jasara to develop future areas of cooperation across project delivery, real estate development, innovation and capability building," he added.-TradeArabia News Service
