Mubasher: Al Mehanya for Real Estate Investments and Housing Company signed a Memorandum of Understanding (MoU) with Al-Saudi and Partners Housing Company to build a shopping mall with investments totalling JOD 10 million ($14 million).

Each of the two companies will own 50% of the new mall, as Al Mehanya will contribute the land plot which is owned by one of its subsidiaries, and is valued at JOD 4.25 million.

Al Mehanya expects the project to raise the company’s revenues when it is finished, and then sold or leased, according to the company’s statement to the Amman Stock Exchange (ASE).