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Jabal Omar Development Company announces the Appointment of a Non-executive Member in the Board of Directors

Jabal Omar Development Company (JODC) announces that it has received a letter from Hasana Investment Company, which is a wholly-owned subsidiary of the General Organization for Social Insurance (GOSI) on 27/3/1438 – 26/12/2016. This letter included a request for the appointment of Mr. Mansour bin Abdulaziz bin Rashid Al-Bosaily as a non-executive member in the JODC’s Board of Directors; representing the General Organization for Social Insurance instead of the Mr. Yasser Abdulaziz Mohammed Abu Ateeq (non-executive member), and it will be effective from 27/3/1438 – 26/12/2016. The Board of Directors has approved this appointment on 27/3/1438 -26/12/2016; however, the Board’s approval is not final. This appointment will be presented at the first meeting of the General Assembly for approval

Mr. Mansour Al-Bosaily currently serves as the Board Chairman of HSBC Saudi Arabia Company, in addition to his membership in the Board of Directors of the Saudi Arabian Cooperative Insurance Company (SAICO), Saudi Ground Service Company (SGS), and Amlak International Company; and his membership in other committees. He holds a Bachelor of Systems from King Saud University in Riyadh, Saudi Arabia, and was graduated in 1984.

Mr. Mansour Al-Bosaily has many experiences in the banking field; as he held several leadership positions.

Other Press Releases

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 […]

JODC received the Ministry of Finance’s approval to restructure SAR 3 billion existing loan facility

Makkah, Saudi Arabia; 21 November 2021: Jabal Omar Development Company (“JODC” or the “Company”), one of the largest real estate development companies in the Kingdom of Saudi Arabia, announced today the receipt of the Ministry of Finance’s approval to restructure an existing SAR 3 billion Murabaha loan facility. This agreement will have several immediate and […]

Jabal Omar Development Company Secures Over Half a Billion Saudi Riyals from Land Plot Sale in Jabal Omar Project

Makkah, KSA; 30 September 2021: Jabal Omar Development Company (JODC) (Tadawul: 4250), one the largest real estate developers in Saudi Arabia, today announced it has sold a parcel of land within its project via a public auction for SAR 517 million. The proceeds from the strategic land sale will enable the Company to progress with […]
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