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Jabal Omar Development Company announces the signing of a MOU with Meraas Holding Company

Jabal Omar Development Company (JODC) announces signing a non-binding memorandum of understanding with Meraas Holding Company on Thursday 19/10/2017.

This Agreement extends for six months, to which both parties examined the full cooperation to develop real estate projects in the Kingdom of Saudi Arabia.
Meraas aims to develop innovative concepts for various sectors such as investment, tourism, hospitality, healthcare, technology, leisure and education.

With the knowledge that there is no relationship with parties and no financial impact.
Any developments will be announced in due course

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

Government’s exceptional management of the pandemic and easing of the restrictions on pilgrimage activities led to a significant increase in the number of pilgrims Revenue in H1 was SAR 391 million, more than tripling year on year Sustained improvement in gross profit driven by Company’s transformation strategy Company expects to bring in new sources of […]

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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