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Saudi Jabal Omar debt obligations amount to SAR12.6bn - Official

Saudi Jabal Omar debt obligations amount to SAR12.6bn - Official
Suadi Jabal Omar debt obligations amount to SAR12.6bn - Official
JABAL OMAR
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34.86% 28.05 7.25

Riyadh – Mubasher: Saudi-based Jabal Omar Development's debt obligations amounted to SAR 12.6 billion, said Yaser Faisal Al Sharif, CEO.

The company also has financial obligations towards completing its projects as well as towards its shareholders in respect to future dividend payments.

The short-term debts amount to SAR 840 million, which is considered a small amount relative to the market value of its projects that stand between SAR120 billion and SAR150 billion. Short-term obligations also account for only 1.25% of the company’s capital.

The company is currently studying all available alternatives in order to meet its debt obligations, which may include raising it capital, added the CEO.

The Saudi listed developer reported net profits of SAR 581.06 million the fiscal year ended 30 Dhul-Hijjah 1437H (corresponding to 3 October 2016), compared with SAR 91.92 million a year earlier.