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 to the loan were paid by Jabal Omar, that led to a cancellation to all legal, financial obligations, and the existing mortgage for NCB, according to statement to the Saudi Stock Exchange (Tadawul).

The financial impact of loan's payment is expected to appear on revenues and shareholders’ rights of Jabal Omar during the fourth quarter of 2017.

Jabal Omar’s stock inched up 0.56%, closing at SAR 64.08 on Thursday.