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Jabal Omar Development Co. Capital/Financing Update 2025
53420_rns_2025-10-29_1c3d8522-6f9b-4772-89af-2c216c6eb712.html
Capital/Financing Update
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Jabal Omar Development Company announces the signing of a contract with Accor Group to manage and operate four hotel towers in the phase 4 of its project in Makkah Al-Mukarramah.
4250 · 29/10/2025 08:02:18 · Announcement #91015 · View on Saudi Exchange
Jabal Omar Development Company announces the signing of a contract with Accor Group to manage and operate four hotel towers in the phase 4 of its project in Makkah Al-Mukarramah.
| Element List | Explanation |
|---|---|
| Introduction | Jabal Omar Development Company announces the signing of a contract with Accor Group to manage and operate four towers that include (1,141) hotel units in the phase 4 of its project in Makkah Al-Mukarramah, which is expected to enter into operation in the fourth quarter of 2026 AD. |
| Date of Announcement of the Award | 2025-10-28 Corresponding to 1447-05-06 |
| Contract Subject Matter | Management and operation of hotel towers in the phase 4 of the Jabal Omar project |
| The Entity with Which the Contract was Signed | Accor Group |
| Date of Signing the Contract | 2025-10-28 Corresponding to 1447-05-06 |
| Contract Value | Accor Group will receive a percentage of revenue and a percentage of the hotels' gross operating profit for management and operation. |
| Contract Details | A contract to manage and operate four towers, including (1,141) hotel units, which will be managed by the Sofitel Jabal Omar brand. |
| Contract Duration | 15 years, renewable |
| Financial Impact and the Relevant Period | The financial impact will appear after the hotel is operational, and is expected to be operational in the fourth quarter of 2026. |
| Related Parties | No related parties |
| Attached Documents |  |
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