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Jabal Omar Development Company and British Northacre Company form strategic partnership

Aimed at exploring future opportunities for collaboration in real estate development
Jabal Omar Development Company and British Northacre Company form strategic partnership

JEDDAH, January 2019 – Jabal Omar Development Company (JODC), one of the biggest real estate developers in the Kingdom of Saudi Arabia and the Saudi Stock Exchange (Tadawul), recently signed a Memorandum of Understanding (MoU) with the British Company, Northacre a subsidiary of Abu Dhabi Financial Group. The MoU was signed by the CEO of JODC Mr. Yasser Bin Faisal Al-Sharif and the CEO of Northacre Nicolo Barateeri.

This MoU aims to enable Northacre to co-develop Jabal Omar’s projects, as part of Jabal Omar’s strategy to expand its footprint outside Makkah.

Commenting on the signing, Mr. Yasser Faisal Al-Sharif said “Northacre is a strong partner that will help us achieve our vision of being the nation’s trusted master developer. With their cutting edge skills we will co – develop new, innovative technologies for future projects and utilize their experience to further develop our Saudi talent.”

This reflects JODC’s sound reputation not only locally and regionally, but also at the global level.

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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

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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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