Real Estate: Saudi and Sudanese investors form multi-billion dollar real estate company

Investors from Saudi Arabia and Sudan, have joined together to form a $10 billion real estate company in Khartoum.

A Memorandum of Understanding has been signed by Nasser Fahd al-Juma, chairman of the Saudi Sudanese Business Council and the Sudanese minister of state for investments, Al-Samih Al-Seddik.

According to The Daily Star, Saudi Arabia is represented by Khaled Xenel, chairman of Saudi Cable Company (SCC) and founding member in Xenel Industries, Abdel Ghaffar Jamjoum, member of the board of directors of Palestine Investment Bank, and businessman Juma Bin Fahd al-Juma. Sudanese investors include Ahmad Ali Geneif, a former minister of agriculture and former member of parliament, and businessmen Abdel al-Wahab Ahmad Hamze and Abdel Aziz Mohammad Mabrouk.