Jabal Omar Development Co (4250)

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News

1 July 2018 10:46 AM Jabal Omar’s board names new chairman

Riyadh – Mubasher: Saudi real estate developer Jabal Omar Development on Sunday announced that its board had appointed Abdulaziz  Al Subaie as the company's new chairman, and Abdul Raouf Mohammad Manna as his deputy during an ordinary general …

Management Decisions

20 May 2018 11:03 AM Jabal Omar sells 90 units at SAR 1.1bn

Riyadh – Mubasher: Jabal Omar Development on Sunday announced signing an agreement to sell 90 residential units to Albilad Capital, the investment arm of Albilad Bank. The total cost of the deal amounted to SAR 1.1 billion, according to a filing …

Real estate

9 May 2018 04:31 PM Jabal Omar Q1 profit slides 79%

Riyadh – Mubasher: Jabal Omar Development on Wednesday reported a 79% year-on-year plunge in its profits for the first quarter of 2018. Net profits amounted to SAR 29.29 million in Q1-18, compared to SAR 139.37 million in Q1-17, according to the …

Financial Results

8 May 2018 01:10 PM UAE’s SHUAA Capital inks property management MoU with Jabal Omar Development

Dubai – Mubasher: SHUAA Capital on Tuesday announced signing a memorandum of understanding (MoU) with Saudi-based Jabal Omar Development Company through which the two companies aim to launch and manage real estate investment vehicles in Saudi …

Real estate

19 April 2018 00:38 PM Jabal Omar-Meraas MoU expires; firms in talks for renewal

Riyadh – Mubasher: Jabal Omar Development has announced that its memorandum of understanding (MoU) with the UAE’s Meraas Holding has been expired. In October 2017, Jabal Omar inked a non-binding MoU with Dubai-based Meraas Holding to examine means …

Companies Investments

3 April 2018 05:23 PM Jabal Omar to log SAR 4bn revenues from Address hotel - CEO

Riyadh – Mubasher: Jabal Omar Development is expected to generate between SAR 4 billion and SAR 4.5 billion in revenues from a fresh sale licence in the third phase of the Address hotel, CEO Yaser Al Sharif said. Located in Makkah, the Address …

Companies Investments

2 April 2018 04:59 PM Saudi property developers’ net profits hit 2.9% in Q4

By: Thabet Shehata Riyadh – Mubasher: Net profits of Saudi Arabia's real estate sector surged 2.86% in the fourth quarter, while registered a 23.68% drop in the full-year 2017. Saudi Arabia-listed developers’ net profit increased to SAR 609.18 …

Financial Results

1 April 2018 10:16 AM Jabal Omar Development suffers major loss in 2017

Riyadh – Mubasher: Jabal Omar Development Co. has incurred massive losses in the full year 2017 versus profits the year before. The Saudi real estate developer logged SAR 600.97 million ($160.26 million) losses in the 12-months ended December 2017 …

Financial Results

21 March 2018 04:51 PM Jabal Omar repays 1st part of SAR 842m loan to Bank Albilad

Riyadh – Mubasher: Jabal Omar Development on Wednesday said it repaid the first instalment of its Islamic bridge loan with Bank Albilad. The first instalment amounts to SAR 136.77 million, the real estate development said in a filing to the Saudi …

Banking and Finance

22 February 2018 10:11 AM KSA’s Jabal Omar, Ground Services ink new terminal MoU

Riyadh – Mubasher: Saudi Arabia’s Jabal Omar Development has signed a memorandum of understanding (MoU) with Saudi Ground Services Co for jointly studying the possibility of establishing new passenger terminal at King Abdulaziz International …

Management Decisions

23 January 2018 11:00 AM Saudi Jabal Omar to open 1st Oberoi hotel in Makkah

Riyadh – Mubasher: Jabal Omar Development on Tuesday signed a memorandum of understanding (MoU) with the Indian firm, The Oberoi Hotels & Resorts, to inaugurate the first hotel for Oberoi in Jabal Omar project in Makkah. The contract was signed in …

Corporate Actions

19 November 2017 09:13 PM Jabal Omar appoints Goldman Sachs as advisor for merger

Riyadh - Mubasher: Jabal Omar Development has announced appointing Goldman Sachs - Saudi Arabia as the financial advisor for its merger with Umm Al Qura for Development and Construction Company. Jabal Omar revealed that the deal is still under …

Mergers and Acquisitions

9 November 2017 07:15 PM Jabal Omar suffers SAR 61m losses in Q3

Riyadh - Mubasher: Jabal Omar Development Co on Thursday revealed that the company turned to losses in the third quarter of 2017, against profits in Q3-16. The net losses amounted to SAR 60.8 million in Q3-17, versus profits of SAR 63.4 million in …

Financial Results

9 November 2017 05:01 PM Jabal Omar pays SAR 4bn loan to NCB

Riyadh – Mubasher: Saudi Arabia-based, Jabal Omar Development Co, on Thursday implemented earlier payment of SAR 4 billion ($1.07 billion) loan to the National Commercial Bank of Saudi Arabia (NCB). All expenses and commissions which are related …

Corporate Actions

2 November 2017 03:01 PM Jabal Omar assigns 2 banks for sukuk sale early 2018

Riyadh – Mubasher: Jabal Omar Development has appointed two banks to manage a sukuk sale of SAR 4 billion ($1.07 billion) in the first quarter of 2018, sources told Reuters. The real estate company has hired Al Bilad Bank and GIB Capital to …

Sukuk and Islamic Finance

23 October 2017 03:50 PM Jabal Omar invests SAR 1bn in in-kind stake in Alinma Makkah Real Estate Fund

Riyadh – Mubasher: Jabal Omar Development on Monday said it invested SAR 1 billion in an in-kind stake in Alinma Makkah Real Estate Fund, and it will be deducted from the sale’s price. The fund was established to acquire three hotels and two …

Companies Investments

22 October 2017 10:11 AM KSA’s Jabal Omar inks 6M MoU with UAE’s Meraas

Riyadh – Mubasher: Jabal Omar Development on Sunday announced that it has signed a non-binding memorandum of understanding (MoU) with Dubai-based Meraas Holding. The deal was signed on Thursday, 19 October, the company revealed in a statement to …

General News

18 October 2017 11:34 AM Jabal Omar to provide land for Bawabat Makkah 1st phase project

Riyadh – Mubasher: Jabal Omar Development signed on Tuesday, 17 October a 6-month non-binding memorandum of understanding (MoU) with Bawabat Makkah Co. to provide it a land for the first phase of its project. The MoU includes choosing the suitable …

Companies Investments

5 October 2017 10:29 AM Jabal Omar to distribute interim dividends

Riyadh – Mubasher: Jabal Omar Development’s board on Wednesday agreed on distributing interim dividends to shareholders during the extraordinary general meeting (EGM). The financial statement for the short Hijri year ended 15 Rajab 1438 have been …

Cash Dividends

1 October 2017 09:59 AM Jabal Omar to convert SAR 3bn facility to Murabaha loan

Riyadh – Mubasher: Jabal Omar Development Co. on Sunday said it continues the procedures of converting a SAR 3 billion commercial loan to a Murabaha loan. The loan was awarded to Jabal Omar by the Saudi Ministry of Finance (MoF). Murabaha is not …

Company News

28 September 2017 10:17 AM Jabal Omar, Umm Al Qura inked MoU to merge

Riyadh – Mubasher: Jabal Omar Development Co. signed on Wednesday, 27 September a 6-month non-binding memorandum of understanding (MoU) with Umm Al Qura Development and Construction Co. to merge the two firms. Subject to the MoU, the two companies …

Corporate Actions

6 September 2017 01:07 PM Jabal Omar to extend MoU with Albilad Capital to sell 93 units

Riyadh - Mubasher: Jabal Omar Development Company announced the extension of the memorandum of understanding (MoU) signed with Albilad Investment Company (Albilad Capital) to sell 93 housing unit of the second phase of an underway real estate fund …

Mutual Funds

29 August 2017 00:40 PM Private transaction on Jabal Omar totals SAR 21.4m

Riyadh – Mubasher: One private transaction executed on Jabal Omar Development on Tuesday on the Saudi Stock Exchange (Tadawul) totalled SAR 21.4 million. The transaction saw the trading of 350,000 shares, at SAR 61 per share, according to a bourse …

Insider Trading & Treasury Stocks

24 August 2017 01:26 PM Jabal Omar to establish 2 firms with SAR 20m capital

Riyadh – Mubasher: Jabal Omar Development on Thursday announced its plans to establish two specialised companies in hotel, resort, and commercial markets asset management with a total capital of SAR 20 million. The first firm will be a …

Company News

24 August 2017 00:28 PM Private transaction on Jabal Omar totals SAR 21.4m

Riyadh – Mubasher: One private transaction executed on Jabal Omar Development shares on Thursday on the Saudi Stock Exchange (Tadawul) totalled SAR 21.4 million. The transaction saw the trading of 350,000 shares, at SAR 61 per share, according to …

Insider Trading & Treasury Stocks