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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 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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