Riyadh – Mubasher: Jabal Omar Development Company signed a deal to sell a land plot within its project in Makkah Al Mukarramah at SAR 1.07 billion, according to a bourse disclosure.

The two entities signed the agreement, on 20 November 2024, to enhance its capital structure by decreasing its debt obligations and optimizing its financing cost.

Asset book value stood at SAR 254.11 million. The deal is expected to have a positive impact on the company's financial results after the completion of the transaction.

Jabal Omar recently announced Abdulrahman Abdulqader Bajunaid as its new CEO.