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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

Correction announcement from Jabal Omar Development Company regarding the fractional shares resulting from the capital increase of the Company by way of debt conversion

Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website 2022-09-05 Corresponding to 1444-02-09 Hyperlink to the Previous Announcement Click Here Incorrect statements in the previous announcement There are no fractional shares resulting from the capital increase of the Company. Correct Statement There are fractional shares resulting from the capital increase of […]

Jabal Omar Development Company announces that there are no fractional shares resulting from the capital increase of the Company by way of debt conversion

Announcement Detail With reference to the announcement of Jabal Omar Development Company (the “Company”) on the Saudi Stock Exchange’s (Tadawul) website on 05/02/1444H (corresponding to 01/09/2022G) in relation to the completion of the Transaction and the listing of the New Shares that have been issued with respect to the Transaction to the eligible unitholders of […]

Jabal Omar Development Company Announces the Listing of the Consideration Shares and the Completion of the Transaction

Announcement Detail In reference to the announcement made by Jabal Omar Development Company (the “Company”) on the Saudi Stock Exchange (Tadawul) website on 01/02/1444H (corresponding to 28/08/2022G) in relation to the results of the extraordinary general assembly meeting that included the approval to increase the share capital of the Company in order to settle all […]

Jabal Omar Development Co. Announces Resignation and Appointment of a Board Member

Introduction Jabal Omar Development Company announces that the Board approved the resignation of Dr. Abdulraouf M. Mannaa, and the appointment of Mr. Saleh Abdullah Alzumai as a member of the Board of Directors. On this occasion, the board extends its sincere thanks to DR. Abdulraouf Mannaa for his efforts during his term of membership in […]
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