SAUDI ARABIA: Imad Saleh Kharashi, the governor of the Saudi General Authority for Awqaf, has signed an MoU with Dr Ayed Farhan Qahtani, the chairman of Sumou Real Estate, to launch several endowment development initiatives worth SAR500 million (US$133.08 million). The primary goal is to enhance endowment conditions and contribute to sustainable development.
The MoU outlines a plan to support the formation and launch of the Endowment Investment Fund for Kinship. Additionally, it includes the establishment of the Endowment Marketing Company, which will manage and market endowment properties, among others.
