Corporate News Room


Jabal Omar Development Company announces the Signing of a Memorandum of Understanding with Albilad Capital to sell Residential Units in the Second Phase of its Project in Makkah

Jabal Omar Development Company (JODC) announces the signing of a memorandum of understanding with Albilad Capital (licensed by the Capital Market Authority “CMA”), which is the investment banking arm for Bank Albilad, on Thursday 1/8/1438 – 27/4/2017, for a period of 4 months from the signature date; in order to sell 93 residential units in the phase two of Jabal Omar project to the real estate fund being established by Albilad Capital Company for this purpose; as the fund, which is planned to be established after obtaining the necessary approvals from the CMA, signing the sale and management contracts, and collecting the necessary funds, will acquire the residential units with an approximate value equivalent to one billion and two hundred million Saudi Riyals (to be determined after the completion of the due diligence inspection), and it is expected that the all acquisition procedures will be completed during the current fiscal year. Furthermore, the agreement also included that JODC will extend the lease period of the residential units that have been sold to Albilad Hospitality Fund, which amount to 55 units, from one to five years.

The sale proceeds will be used to implement the project’s strategy and the financial impact will be positive on the company’s revenues and shareholders’ equity during the current fiscal year.

Knowing that His Excellency the Chairman Mr. Abdulaziz Alsubeaei is a relevant party and that the corporate governance standards will be applied with respect to this deal, the matter will be presented before the company’s next General Assembly for approval.

Other Press Releases

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 […]


JODC has won the Saudi Top Achievers Award 2019 in the category of Outstanding Architecture Initiative Award. The glamorous Saudi Top Achievers Award 2019 organized by My Events International was successfully held at the Jeddah International Exhibition & Convention Center and coincided with the 75th anniversary of the Jeddah Chamber of Commerce and Industry (JCCI) […]

Prince Bader Bin Sultan Visit to Jabal Omar Project

His Royal Highness Prince Badr bin Sultan, Deputy Governor of Makkah Region, visited the Jabal Omar project in Makkah and was received by CEO Mr. Yasser Al-Sharif, where he inspected the construction works of the project and the facilities of hotels and commercial centers of Jabal Omar for the upcoming Ramadan season.

Jabal Omar Development Company Co-Sponsors Second Fawanees Makkah Festival

Jabal Omar Development Company has co-sponsored the second edition of the Fawanees Makkah festival held during the holy month of Ramadan. The festival, which was inaugurated by the Under-Secretary of Makkah Dr. Hisham bin Abdul Rahman, was organized by the Makkah Chamber of Commerce and took place throughout 15-25 May 2019. The second Fawanees Makkah […]
Open form