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INVESTOR RELATIONS

JODC announces the Operation of Jabal Omar Hilton and the Main Convention Center in its Project in Makkah

JODC announces the opening and operation of Jabal Omar Hilton Hotel and the Main Convention Center (commercial operation) on Friday, 3/7/1438 AH, corresponding to 31/3/2017, which joined the chain of hotels operated by Hilton Worldwide in Jabal Omar Project in Makkah; and that is after the company has obtained the permits of the concerned authorities, and the permit of the General Authority for Tourism and Antiquities to run the hotel and the main convention center, and its classification as five-star hotel.

It is worth mentioning that the hotel overlooks the Grand Mosque, and consists of 20 residential floors, including 764 rooms and suites with a luxurious and contemporary style. The hotel includes a VIP lounge, a gym, and three main restaurants. The main convention center can accommodate 1380 persons, and 7 separate meetings halls.

The company would like to point out that this hotel and the main convention center are fully owned by JODC, and were not part of Alinma Investment Fund’s deal. The impact will start positively on the shareholders’ equity in the company starting from the third quarter of the current fiscal year.

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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