Media

Corporate News Room

Browse:

Jabal Omar announces plans to enable sub-developers as part of its strategic transformation plan

• Mr. Khaled Al Amoudi, CEO: The Jabal Omar model aims to inject a new way of thinking in the real estate sector and enables sub-developers to seize opportunities in Mecca.
• Supports growing business and accelerates the completion of development works in Mecca.
• In line with Saudi Vision 2030 to develop the hospitality sector in Mecca to accommodate the expected increase of Hajj and Umrah pilgrims in the near future.

XX August 2021, Mecca, Saudi Arabia: Jabal Omar Development Company (“Jabal Omar”), one of the largest real estate developers in Saudi Arabia, announced the launch of a new program within its strategic transformation plan. This new program revolves around expanding investment opportunities in line with Saudi Vision 2030 to develop the hospitality sector in Mecca, as an essential element to accommodate the expected increase of Hajj and Umrah pilgrims in the near future.
In this context, Mr. Khaled Al Amoudi, CEO of Jabal Omar Development Company, stressed that companies can play a complementary role alongside other real estate developers in their projects, and establish a new way of growing its business in the real estate market. Al Amoudi emphasized that such initiatives accelerate the completion of development works that will enable sub-developers to seize unique investment opportunities, enhance their technical expertise, boost customer confidence, as well as place them at the forefront of development companies.
“As a major real estate developer, we have the duty to collaborate with other private sector entities. This entails enhancing joint ventures and working with experts to elevate standards and promote investment in Mecca,” said Al Amoudi.
“At Jabal Omar, our current strategy focuses on building value and adopting a new model of business to further development and realize the long-term targets of our strategic plans. Moreover, we are committed to enhancing our own performance and support the goals of and objectives of Saudi Vision 2030. That is, to increase the capacity of Hajj and Umrah pilgrims of up to 30 million visitors, as well as develop the areas around the Haram Mosque in Mecca, while providing the best service to not only elevate the sanctity and prestige of these places but to be in line with the highest international standards.” he added.
As for the company’s existing projects, Al Amoudi explained that the center of Mecca is a promising district for real estate investment, given the importance of its strategic location next to the Haram Mosque, and the growing demand for housing next to the Holy Mosque, as well as being a major destination for religious pilgrimage. This requires the implementation of several infrastructure and real estate development projects to provide the best facilities for Hajj and Umrah pilgrims throughout the year. By improving the quality of the facilities in Mecca, this enables those who are on their pilgrimage a high level of comfort and ease, and also enriches their religious journey and cultural experience. Such endeavors provide many promising investment opportunities for the construction of international-branded hotels, residential and commercial properties, as well as the development of a wide-range of facilities and services to meet the needs of visitors and residents. Overall, improving the services provided in the region.
The Jabal Omar master project is one of the most important projects aimed at developing the areas around the Haram Mosque, to accommodate an increased number of Mecca’s visitors by developing hotels and commercial areas in line with the highest standards of international quality. Thus, transforming Mecca into a bright and sophisticated reflection of the Kingdom in partnership and cooperation with various relevant government agencies and private sector companies.

Other Press Releases

“Jabal Omar” and “Al Arabiya” sign a strategic partnership to invest and market the media leasing in the Jabal Omar project

Jabal Omar Development Co. signed today (Sunday) a strategic partnership agreement with Al-Arabia OOH (Al-Arabiya); To invest and market the media leasing in the Jabal Omar project, which is one of the most important development projects in the central area of Makkah Al-Mukarramah. The announcement of the agreement took place during the signing ceremony at […]

Jabal Omar Revenues grew by 189% to reach SAR 317 million compared to the first quarter of 2022

Hospitality revenues grew by 179% for the first quarter of 2023 to reach SAR 268 million, a record improvement compared to SAR 96 million for the same period in 2022, driven by the success of the company strategy to improve the performance of the hospitality portfolio, besides benefiting from government initiatives related to the Hajj […]

JODC Shareholders Approve Landmark Alinma Fund Debt to Equity Transaction, Set to Issue 225 Million New Shares in Return for Settling SAR 5.3 billion in Outstanding Debt Owed to the Fund

Makkah, KSA; 28 August 2022: Jabal Omar Development Company (“JODC” or the “Company”) (Tadawul: 4250), one of the largest real estate developers in Saudi Arabia and the master developer of the iconic mega mixed-used project in Makkah, Jabal Omar, received shareholder approval for issuing new ordinary shares in the JODC to the unitholders of the […]

JODC’s H1 2022 Revenue Surges to Near Pre-Pandemic Levels on Recovery in Umrah Activity

Government’s exceptional management of the pandemic and easing of the restrictions on pilgrimage activities led to a significant increase in the number of pilgrims Revenue in H1 was SAR 391 million, more than tripling year on year Sustained improvement in gross profit driven by Company’s transformation strategy Company expects to bring in new sources of […]
Open form