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INVESTOR RELATIONS

JODC announces its Subscription with an In-Kind Share in Alinma Makkah Real Estate Fund worth One Billion Riyals

JODC announces that on 22nd of October 2017 it has been confirmed that the company has subscribed to Alinma Makkah Real Estate Fund with an in-kind share worth one billion riyals deducted from the sale amount; as stated in the company’s announcement on Tadawul’s website on 25/8/2016 and the announcement published on 22/3/2017.

Alinma Investment Company has previously announced the successful offering of Alinma Makkah Real Estate Fund with a total number of subscriptions exceeding 13.5 billion riyals.

The Fund Manager will announce the allocation process within a period no later than 15 business days from the closing date of the subscription period on 17/10/2017.

According to the Fund’s terms and conditions mentioned in the offering memorandum, the mentioned fund was established to acquire three hotels and two shopping malls from JODC, worth 6 billion riyals. The Fund’s term is 5 renewable years; and during this period, JODC will lease the assets from the Fund at a value equivalent to 540 million riyals annually. Furthermore, the Fund grants the right to repurchase to Jabal Omar at any time from the beginning of the sixth year to the end of the tenth year, with the same purchase value amounting to six billion Saudi Riyals; and the relevant party is the CEO of JODC; being a member of the Fund’s Board of Directors.
The financial impact will be positive on shareholders’ equity starting from the fourth quarter of the year 2017; as the annual lease value that will be paid to the Fund will be reduced under this subscription.

Any developments will be announced after the final allocation.

Other Disclosures

Jabal Omar Development Company invites its shareholders to attend the 13th Ordinary General Assembly Meeting (The First Meeting) by means of modern technology

Introduction The Board of Directors of Jabal Omar Development Company are pleased to invite the shareholders to attend the Ordinary General Assembly meeting of the company, which will be conducted virtually via Tadawulaty Platform. City and Location of the General Assembly’s Meeting Makkah – the company’s headquarters- by Means of Modern Technology URL for the […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER%CHANGE Sales/Revenue317.09109.65189.18239.5832.35 Gross Profit (Loss)122.25-25.74--27.73- Operational Profit (Loss)102.13-72.23--66.94- Net Profit (Loss) after Zakat and Tax11.93-182.46--194.45- Total Comprehensive Income11.93-182.46--197.61- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Total Share Holders Equity (after Deducting Minority Equity)12,697.08 7,744.2663.95 Profit (Loss) per Share0.01-0.2- All figures […]

Jabal Omar Development Company announces the receipt of Ministry of Tourism License to operate the first tower of Jabal Omar Address Hotels in its project in Makkah Al-Mukarramah

Announcement Detail Jabal Omar Development Company announces that it has received today, Thursday May 18 2023, the license of the Ministry of Tourism to operate the first tower of the Jabal Omar Address hotels with a five-star rating. The first tower includes 742 rooms and suites (out of which 51 rooms have been sold off-plan), […]

Jabal Omar Development Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

Element ListCurrent YearPrevious Year%Change Sales/Revenue849.5310.36173.71 Gross Profit (Loss)51.76-224.64- Operational Profit (Loss)-190.91-458.34-58.35 Net Profit (Loss) after Zakat and Tax-352.43946.21- Total Comprehensive Income-355.59948.7- Total Share Holders Equity (after Deducting Minority Equity)13,385.15 8,626.7255.16 Profit (Loss) per Share-0.351.02- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTEXPLANATION The reason of the increase (decrease) in the net profit during […]
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