Media

INVESTOR RELATIONS

Jabal Omar Development Company Announces Recent Development Relating To The Non-Binding Offer Submitted To The Manager Of Alinma Makkah Real Estate Fund Relating To The Full Settlement Of The Rights And Obligations Of The Fund’s Assets

Introduction
Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 07/06/1443H (corresponding to 10/01/2022G) in relation to the recent development relating to the non-binding offer submitted to the manager of Alinma Makkah Real Estate Fund (the “Fund”) regarding the full settlement of the rights and obligations of the Fund’s assets in exchange for new shares to be issued to the Fund’s unitholders in the Company (the “Transaction”) (hereinafter referred to as the “Company’s Announcement”), and the announcement made by the Fund manager on the Saudi Exchange website on 07/07/1443H (corresponding to 07/02/2022G) on obtaining the approval of the Capital Market Authority (CMA) on the fundamental changes to the Fund terms and conditions to enable the Fund manager to accept the offer on behalf of the Fund (hereinafter referred to as the “Fund Manager’s Announcement”), and whereas the Fund Manager’s Announcement stated that the fundamental changes will take effect on 20/07/1443H (corresponding to 21/02/2022G), and whereas the Company’s Announcement stated that the binding agreement in respect of the transaction is expected to be executed on or before the 10th of February 2022G, the Company announces that it has submitted a notification to the Fund manager to extend the period during which the binding agreement in respect of the transaction should be executed so that the agreement can be signed once the fundamental changes to the Fund terms and conditions take effect.

The Company will announce any further material developments in relation to the Transaction in a timely manner as required by the relevant laws and regulations.

Previous Announcement
Recent development relating to the non-binding offer submitted to the manager of Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations of the fund’s assets.

Date of Previous Announcement on Tadawul’s Website
2022-01-10 Corresponding to 1443-06-07

Percentage of fulfilled achievement
Not applicable

Event’s Expected Completion Date
Not applicable

Reasons for Exceeding the Announced End Date
Not applicable

The costs associated with the event, and if they have changed or not with indication of the reasons
Not applicable

Impact of the Delay on the Company’s Financial Results
Not applicable

Other Disclosures

Jabal Omar Development Company announces the signing of Murabaha facility agreement with Al Rajhi Bank.

Introduction Jabal Omar Development Company announces the signing of SR 1.9 billion facility agreement with Al Rajhi Bank. Date of obtaining the funding 2024-01-25 Corresponding to 1445-07-13 Financing entity Al Rajhi Bank. Financing amount SR 1.900.000.000 Financing duration 2 years Guarantees offered for the financing Security over certain real estate assets within the Jabal Omar […]

Jabal Omar Development Company announces the receipt of a license from the Ministry of Tourism to operate the second tower of Jabal Omar Jumeirah Hotels in its project in Makkah

Announcement Detail Jabal Omar Development Company announces that it has received on Thursday 18 Jan 2024, the license of the Ministry of Tourism to operate the second tower of the Jabal Omar Jumeirah hotel with a five-star rating. The second tower includes 244 luxurious and modern style rooms and suites in addition to a restaurant, […]

Jabal Omar Development Company announces that it has obtained an initial permit from the Ministry of Hajj and Umrah to provide service to pilgrims abroad

Announcement Detail Jabal Omar Development Company announces that it has obtained an initial permit from the Ministry of Hajj and Umrah to provide Hajj service to pilgrims abroad for (80) thousand pilgrims. The company is currently working on completing the necessary procedures to obtain the final permit. This comes within the company’s strategy to enhance […]

Jabal Omar Development Company announces the liquidation of Aliyat Marketing Company

Announcement Detail Jabal Omar Development Company announces that the liquidation of Aliyat Company – a one-person closed joint stock company wholly owned by the company with a capital of five million six hundred thousand Saudi riyals. It should be noted that the activity of Aliyat Company has been merged into Jabal Omar Company, and therefore […]
Open form