Saudi-listed Al Kathiri Holding Company said its subsidiary has signed a non-binding memorandum of understanding (MoU) with the Rwanda Housing Authority to develop 10,000 affordable housing units.

The MoU was signed by Alian Industries Company and will be valid for five years from the signing date, Al Kathiri said in a statement to the Saudi stock exchange.

As part of the agreement, Alian will prepare a comprehensive project implementation proposal (technical, financial, and execution aspects) and submit it to the competent authorities in Rwanda for approval.
  
The MoU is part of Al Kathiri’s strategy to expand into international markets and transfer the latest construction technologies to global markets, in line with Saudi Vision 2030 objectives of supporting national exports.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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