Riyadh – Mubasher: Red Sea Housing Services Company (JAFZA), a subsidiary of Red Sea International Co, has signed a memorandum of understanding (MoU) with Dubai’s AECOM Middle East Limited on Saturday to implement housing projects in Saudi Arabia, according to a bourse filing on Sunday.

AECOM's responsibilities involve assisting in project and construction management, master planning including urban and infrastructure planning, infrastructure design, buildings and landscaping design, in addition to modular construction solutions, and cost consulting and value engineering services

Signing the 12-month MoU aims to determine housing opportunities offered by the Ministry of Housing and to work on presenting innovative housing solutions that can be executed as soon as possible.

“There is no material financial impact at this point in time resulting from signing the MoU. Any material information related to signing the MoU will be disclosed in due course,” Red Sea Housing said.