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Jabal Omar Development Company announces the Amendment of its Fiscal Year from Hijri to Gregorian Calendar Year.

Further to the company’s announcement on the Saudi Stock Exchange’s website (Tadawul) on 3/5/1438 – 31/1/2017, concerning the transition plan towards the International Accounting Standards for the third phase; in addition to the company’s announcement published on the Saudi Stock Exchange’s website (Tadawul) on 27 /6/1438 – 26/3/2017 regarding the approval of the 8th Extraordinary General Assembly to the amendment of the company’s statute, which stated the conversion of the company’s fiscal year from the Hijri calendar year, which ends on 15/7/1438, to the Gregorian calendar year, which ends on 31/12/ 2017, Jabal Omar Development Company (JODC) announces its intention to amend its fiscal year from the Hijri calendar year, which ends on (30/12) to the Gregorian calendar year, which ends on (31/12), and that is by making an integrated plan to implement this transition; as the company will issue financial statements for the coming period, as follows:

  • The company will issue the short Hijri fiscal year for 1438, which starts from 1/1/1438 and ends on 15/7/1438, and will be published during the statutory publication period using the Saudi accounting standards.
  • The International Accounting Standards will apply starting from 13/4/2017.
  • The company will issue the second Gregorian fiscal quarter for the year 2017, starting from 13/4/2017 till 30/6/2017 and will be published during the statutory publication period.
  • The company will issue the third Gregorian fiscal quarter for the year 2017 for the three months (7/8/9) and will be published during the statutory publication period.
  • The company will issue the fourth Gregorian fiscal quarter for the year 2017 for the three months (10/11/12) and will be published during the statutory publication period.
  • The company will issue the short (Gregorian) fiscal year for 2017, which starts from 13/4/2017 and ends on 31/12/2017, and will be published during the statutory publication period. Furthermore, the company wishes to clarify that implementing this transition will not result in any adverse effects.

Other Press Releases

JODC received the Ministry of Finance’s approval to restructure SAR 3 billion existing loan facility

Makkah, Saudi Arabia; 21 November 2021: Jabal Omar Development Company (“JODC” or the “Company”), one of the largest real estate development companies in the Kingdom of Saudi Arabia, announced today the receipt of the Ministry of Finance’s approval to restructure an existing SAR 3 billion Murabaha loan facility. This agreement will have several immediate and […]

Jabal Omar Development Company Secures Over Half a Billion Saudi Riyals from Land Plot Sale in Jabal Omar Project

Makkah, KSA; 30 September 2021: Jabal Omar Development Company (JODC) (Tadawul: 4250), one the largest real estate developers in Saudi Arabia, today announced it has sold a parcel of land within its project via a public auction for SAR 517 million. The proceeds from the strategic land sale will enable the Company to progress with […]

Jabal Omar announces plans to enable sub-developers as part of its strategic transformation plan

• Mr. Khaled Al Amoudi, CEO: The Jabal Omar model aims to inject a new way of thinking in the real estate sector and enables sub-developers to seize opportunities in Mecca. • Supports growing business and accelerates the completion of development works in Mecca. • In line with Saudi Vision 2030 to develop the hospitality […]

Jabal Omar and Dar Al-Hekma University sign a MoU to develop the engineering creativity of female students

In order to achieve our ambition to become Jabal Omar Company a pioneer in creativity by opening development fields for national talents, the MoU that the company signed with Dar Al-Hekma University included cooperation in the field training for female students and the establishment of a studio for creative design, which reflects the company’s role […]
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