Jabal Omar Development Co. — Capital/Financing Update 2024

Nov 21, 2024

Jabal Omar Development Company announces the sale of a land plot in its project located in Makkah Al-Mukarramah

4250 · 21/11/2024 08:03:38 · Announcement #83764 · View on Saudi Exchange

Jabal Omar Development Company announces the sale of a land plot in its project located in Makkah Al-Mukarramah

Element List	Explanation
Transaction Details	On the 20 November 2024, Jabal Omar Development Company signed a contract to sell a land plot with a total area of 5,649.1 sqm located within its project in Makkah Al-Mukarramah
Transaction Amount	SR 1,073,329,000
Transaction Conditions	No transaction terms
Parties of the Transaction	Jabal Omar Development Company and Mr. Hamad Bin Abdullah Al Mohaissin
Transaction Financing Method	Not Applicable
Date of Entering Into The Transaction	2024-11-20 Corresponding to 1446-05-18
Description of Activity of The Asset Subject of The Transaction	Parcel of land
Asset Book Value	254,115,912 Including development value
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction	Not Applicable
Transaction reasons	Execute the company's plans to enhance its capital structure by decreasing its debt obligations and optimizing its financing cost.
Expected Impact of the Transaction on the Company and Its Operations	The deal is expected to have a positive impact on the company's financial results after the completion of the transaction
Details of Using The Proceeds of the Asset Sale	Loan Facility Payment
Related Parties	No related parties

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