Samsung and Modon Sign MOU Partnership to Transform Urban Spaces with Innovative Solutions in Iraq

On June 6, Samsung Levant and Modon Real Estate Development, a subsidiary of Al Handal International Group (HIG), signed a Memorandum of Understanding (MOU) to drive growth and development in Iraq through strategic collaboration.

The MOU was signed by Mr. Chol Woong Yoon (Ben), President of Samsung Levant, and Mr. Omar Al Handal, Managing Director of Al Handal International Group, at a ceremony held at the Al Handal Group headquarters in the UAE, attended by senior executives from both companies.

The agreement focuses on joint ventures and projects in digital infrastructure, advanced manufacturing, and electronics appliances. This collaboration will leverage Samsung's cutting-edge technology and Modon's real estate expertise to create innovative solutions that enhance quality of life and economic growth in Iraq.

Mr. Ben stated, "This MOU marks a significant milestone in our commitment to contributing to combining Samsung's technological leadership with Modon's real estate acumen, we aim to bring transformative changes that will benefit the entire community."

Mr. Omar Al Handal added, "We are thrilled to partner with a global technology leader like Samsung. This collaboration aligns with our mission to develop modern, sustainable communities that meet future needs. Together, we will work towards creating smart, efficient, and innovative urban spaces."

Key initiatives include:

• Establishing state-of-the-art digital infrastructure to support high-tech industry growth.

• Collaborating on supplying advanced electronics appliances to enhance productivity and sustainability.

This partnership is set to play a crucial role in Modon's long-term objectives by driving technological innovation and sustainable development.