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INVESTOR RELATIONS

Jabal Omar Development Company announces the signing of a SAR 1.6 billion Guarantee Issuance Agreement with the Ministry of Finance

Jabal Omar Development Company announces the signing of a Guarantee Issuance Agreement with the Kingdom of Saudi Arabia, acting through the Ministry of Finance (“MOF”) whereby MOF issued a guarantee to Banque Saudi Fransi for the purpose of providing Jabal Omar Development Company with credit facilities amounting to SAR 1.6 billion.
The guarantee was issued after agreeing on a number of representations and warranties to MOF, in addition to updating the mortgage registered previously to include the amount of the guarantee.
The credit facilities’ tenor will be 15 years from the date of signing the facility agreements on 8 March 2021
The facilities will be used to complete the remaining work of the Phase 3 of the Jabal Omar project, which consists of 4 towers with 2,160 rooms and a total commercial area of 26,435 sqm and 621 parking spaces.
Note that this agreement is classified as a related party agreement given the board member Mr. Thalb Al-Shamrani is a senior executive in the Ministry of Finance.

Other Disclosures

Jabal Omar Development Company announces the full and final redemption of its Sukuk

Introduction Jabal Omar Development Company announces the full and final redemption of its Sukuk of the aggregate face amount of USD 135,000,000 Offer Type Sukuk certificates Value of the redeemed (sukuk bonds) USD 67,500,000 Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) 50 % Number of redeemed (bonds/sukuk) 337.5 Suk Issuance Date 2018-11-15 Corresponding […]

Jabal Omar Development Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Extraordinary General Assembly Meeting

Introduction The Board of Directors of Jabal Omar Development Company are pleased to invite the shareholders to attend the Extraordinary General Assembly meeting of the company, which will be conducted virtually via Tadawulaty Platform at 19:30 on Wednesday, 29-5-1445 Corresponding to 13-12-2023 City and Location of the General Assembly’s Meeting Makkah – the company’s headquarters- […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER%CHANGE Sales/Revenue234.62218.637.31454.46-48.37 Gross Profit (Loss)47.527.98495.49236.68-79.92 Operational Profit (Loss)20.71-92.86-213.38-90.29 Net Profit (Loss) after Zakat and Tax305.46153.1199.5-79.84- Total Comprehensive Income305.46153.1199.5-79.84- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Sales/Revenue 1,006.17609.9264.97 Gross Profit (Loss)406.4679.49411.33 Operational Profit (Loss)336.22-123.98- Net Profit (Loss) after Zakat and Tax237.55-157.98- […]

Jabal Omar Development Co. Announces Appointment Audit Committee Member

Introduction Jabal Omar development Company announces its Board of Directors’ resolution issued on 18-4-1445 Corresponding to 2-11-2023 to appoint Mr. Mazen Fawaz Baghdadi (Independent Board Member) as a member of the Audit Committee, provided that this appointment is effective from the date of this resolution until the end date of the current Board of Directors […]
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