Jabal Omar Sells Land Plot in Makkah for SAR 1.07 Billion

Jabal Omar Development Company announced on Thursday, November 21, 2024, the signing of a contract to sell a land plot spanning 5,649.1 square meters within its project in Makkah Al-Mukarramah.

The transaction, valued at SAR 1.07 billion, aligns with the company’s strategy to strengthen its capital structure by reducing debt and optimizing financing costs.

The company revealed that the book value of the asset, including development costs, is SAR 254.1 million. Proceeds from the sale will be used to repay one of the company’s loans.