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JODC announces on the latest developments on the signing of a MOU with Albilad Capital to sell units in phase 2 of the project in Makkah.

Reference to the declaration of Jabal Omar Development Company (JODC), published on the Capital Market Authority (CMA) website on 1/8/1438, – 27/4/2017.

On Wednesday, 30/8/2017 – 8/12/1438, JODC would like to declare that the extension of the signed MoU with Albilad Capital (The investment banking arm for Bank Albilad, licensed by the CMA) in 1/8/1438, – 27/4/2017.

The MoU is for Albilad Capital to establish a real estate fund to sell 93 residential apartments in phase two of Jabal Omar project. It was agreed to extend the MoU for a 5 months, until in 22/1/2018 under the same terms and conditions to complete the legal and financial due diligence and obtain CMA approval.

All acquisition procedures is expected to be completed during the current financial year. The financial impact will be positive on the company’s revenues and shareholders’ equity.
Knowing that there are related parties, as follows:
1. Chairman Mr. Abdulaziz Mohammed Al Subeaei.
2. Member of the Board of Directors Eng. Anas Mohamed Serafi.

The corporate governance standards has been applied with respect to this deal, the matter will be presented before the company’s next General Assembly for approval.

Other Disclosures

Jabal Omar Development Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE Sales/Revenue1,322.6645.522,805.667250.25428.535 Total Profit (Loss)673.04-210.33-49.491,259.951 Profit (Loss) Operational643.24-284.34-4.54 14,068.281 Net Profit (Loss) after Zakat and Tax469.62-593.97--148.02- Total Comprehensive Income469.62-593.97--148.02- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Sales/Revenue1,715.04568.83201.503 Total Profit (Loss)751.8311.11 6,667.146 Profit (Loss) Operational667.73-164.78- Net Profit (Loss) after Zakat […]

Jabal Omar Development Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CHANGE CURRENTPREVIOUS QUARTER% CHANGE PREVIOUS Net profit (loss)-128.263.35--593.9778.42 Gross profit (loss)29.3139.38-78.98-210.33- Operational profit (loss)19.95-110.11-81.88-284.34- Earning or loss per share, Riyals-0.140.07--- All figures are in (Millions) Saudi Arabia, Riyals ELEMENTEXPLAINATION Reasons of increase (decrease) for quarter compared with same quarter last yearNO TRANSLATION, SEE THE ARABIC VERSION Reasons of increase […]

Jabal Omar Development Co. announces the annual financial results for the period ending on 31-12-2017

ELEMENTCURRENT YEARPREVIOUS YEAR% CHANGE Net profit (loss)600.97-76.66- Earning or loss per share, Riyals-0.650.08- Gross profit (loss)11.11 256.39-95.67 Operational profit (loss) -164.78193.25- All figures are in (Millions) Saudi Arabia, Riyals ELEMENTEXPLAINATION Reasons of annual financial resultsNO TRANSLATION, SEE THE ARABIC VERSION Reclassifications in annual financial resultsNO TRANSLATION, SEE THE ARABIC VERSION Other notesNO TRANSLATION, SEE THE […]

Jabal Omar Development Company announces an MOU extension with Umm al-Qura Development and Construction Company

Reference to Jabal Omar Development Company (JODC) declaration published on Saudi Stock Exchange (Tadawul) on 08/01/1439H – 28/09/2017, the company renews the non-binding memorandum of understanding
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