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INVESTOR RELATIONS

Jabal Omar Development Company announces selling a land plot in its project located in Makkah

Transaction Details
On 29 September 2021, Jabal Omar Development Company sell a land plot with a total area of 2,600 sqm located within its project in Makkah
Transaction Value
SR 517,463,680 in addition to the buyer bearing the real estate transaction tax and brokerage fees
Transaction Terms
No transaction terms
Parties of the Transaction
Jabal Omar Development Company and Aqarat Development Company
Transaction Funding Method
Not Applicable
Transaction Execution Date
2021-09-29 Corresponding to 1443-02-22
Description of the Business of the Asset forming the Subject Matter of the Transaction Parcel of land
Asset Book Value
SR 110, 835, 057 Including development value
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction
Not Applicable
Transaction reasons
Execute the company’s plans to restructure its financial obligations and complete the construction work of the outstanding phases
Expected Impact of the Transaction on the Company and Its Operations
The deal is expected to have a positive impact on the company’s financial results after the completion of the process of land deed’s transfer
Details of Using The Proceeds of the Asset Sale
The sale proceeds will be used to complete the construction work of the outstanding phases of project and to repay part of the syndicated loan
Related Parties
No related parties
Additional Information
It is worth noting that the company is working on a number of initiatives aimed at improving the capital structure by restricting and reducing existing financial obligations, in addition to accelerating the completion of the remaining construction works in the phases under development, which is expected to contribute to improving the company’s cash flow

Other Disclosures

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 • […]

Jabal Omar Development Company announces the submission of a non-binding offer to the manager of the Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations in respect of the Fund’s assets

Further to the announcement made by Jabal Omar Development Company (the “Company”) via the website of the Saudi Exchange on 22 March 2017G, in relation to the sale of three hotels and a commercial area to Alinma Makkah Real Estate Fund (the “Fund”) and subsequently re-leasing such assets, which were to be operated by the […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE Sales/Revenue77.291.395,460.43121.57258.321 Gross Profit (Loss)-46.75-138.07-66.14-88.45-47.145 Operational Profit (Loss)-227.41-222.142.372-137.5765.304 Net Profit (Loss) after Zakat and Tax270.57-453.51--345.3- Total Comprehensive Income270.57-453.51--345.3- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Sales/Revenue98.86159.99-38.208 Gross Profit (Loss)-135.2-139.75-3.255 Operational Profit (Loss)-364.98-306.2819.165 Net Profit (Loss) after Zakat and Tax […]

Jabal Omar Development Company announce appointing the Chairman and Vice Chairman of the Board of Directors

Jabal Omar Development Company announces the appointment of Mr. Saeed Mohammed Alghamdi as Chairman of the board and Mr. Thalib Ali AlShamarani as Vice Chairman, effectively from June 30, 2021 and for a period of three years.
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