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INVESTOR RELATIONS

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 Company (“JODC”, the “Company”) received the approval of the Ministry of Finance (“MoF”) to restructure its SAR 3.0bn loan

Introduction JODC makes reference to its announcement on Tadawul dated 13 December 2011 regarding the receipt of a SAR 3.0bn loan from MoF (the “Existing Loan”), and further to its announcement dated 29 March 2020 regarding MoF’s approval for extending the maturity of the Existing Loan and providing support to restructure the Company’s remaining loans. […]

Jabal Omar Development Co. 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 6/2/1443H (corresponding to 13/9/2021G) in relation to the submission of a non-binding offer to the manager of Alinma Makkah Real Estate Fund (the “Fund”) on behalf of the Fund for the full settlement of the […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE Sales/Revenue43.121.932,134.19677.29-44.21 Gross Profit (Loss)-64.86-67.16-3.424-46.7538.737 Operational Profit (Loss)-57.99-208.5-72.187-227.41-74.499 Net Profit (Loss) after Zakat and Tax-270.04-236.9513.964270.57- Total Comprehensive Income-270.04-236.9513.964270.57- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Sales/Revenue141.98144.96-2.055 Gross Profit (Loss)-200.06-248.11-19.366 Operational Profit (Loss)-422.96-460.13-8.078 Net Profit (Loss) after Zakat and Tax […]

Jabal Omar Development Company announces restructuring of the Islamic term financing provided by SABB and SNB

Introduction Jabal Omar Development Company announces signing an agreement to restructure the Islamic term financing (the “Facility”) provided by SABB and SAMBA (SNB currently) under certain financing the agreements originally entered into on May 2015. Key terms of the restructuring included the following: • Reinstating SR 1.2 billion of available limit to be drawn • […]
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