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JODC announces that it has received the approval of Makkah Region Development Authority to increase the investment construction surfaces of JODP in Makkah

08-03-2017 14:00:08

Jabal Omar Development Company announces that it has received the approval of Makkah Region Development Authority to increase the investment construction surfaces for the fifth, sixth and seventh phases of its project in Makkah, so that the total investment construction surfaces for the entire project reaches 1,665,909 m2 out of 1,171,287 m2, and the increase in the area represents 494.622 m2.

These surfaces will be used in accordance with the project’s construction plan.

The financial impact will start positively on the value of the Company’s assets and investment and operational returns upon the completion of the development process; knowing that this news is the reason for stopping the Company’s shares from trading for this day only, upon the Company’s request from the Capital Market Authority (CMA), as stated in the CMA’s announcement published on this day on the Saudi Stock Exchange “Tadawul” website.

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