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JODC announces that it has received the approval of Makkah Region Development Authority to increase the investment construction surfaces of JODP in Makkah

Jabal Omar Development Company announces that it has received the approval of Makkah Region Development Authority to increase the investment construction surfaces for the fifth, sixth and seventh phases of its project in Makkah, so that the total investment construction surfaces for the entire project reaches 1,665,909 m2 out of 1,171,287 m2, and the increase in the area represents 494.622 m2.

These surfaces will be used in accordance with the project’s construction plan.

The financial impact will start positively on the value of the Company’s assets and investment and operational returns upon the completion of the development process; knowing that this news is the reason for stopping the Company’s shares from trading for this day only, upon the Company’s request from the Capital Market Authority (CMA), as stated in the CMA’s announcement published on this day on the Saudi Stock Exchange “Tadawul” website.

Other Press Releases

JODC Shareholders Approve Landmark Alinma Fund Debt to Equity Transaction, Set to Issue 225 Million New Shares in Return for Settling SAR 5.3 billion in Outstanding Debt Owed to the Fund

Makkah, KSA; 28 August 2022: Jabal Omar Development Company (“JODC” or the “Company”) (Tadawul: 4250), one of the largest real estate developers in Saudi Arabia and the master developer of the iconic mega mixed-used project in Makkah, Jabal Omar, received shareholder approval for issuing new ordinary shares in the JODC to the unitholders of the […]

JODC’s H1 2022 Revenue Surges to Near Pre-Pandemic Levels on Recovery in Umrah Activity

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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 […]
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