| Introduction |
Jabal Omar Development Company announces the signing of a SAR 2 billion Murabaha facility agreement with Saudi National Bank for the purpose of refinancing existing facilities on improved terms. |
| Date of obtaining the funding |
2026-06-17 Corresponding to 1448-01-02 |
| Financing entity |
Saudi National Bank |
| Financing amount. |
SAR 2 billion |
| Financing duration. |
Fifteen (15) years |
| Guarantees offered for the financing |
A mortgage of one (1) asset under Jabal Omar Project |
| Financing objective |
The new facilities will improve the repayment schedule and enhance the Company’s cash flow sustainability |
| Related Parties |
None |
| Additional Information |
It should be noted that Mr. Saeed Al-Ghamdi has an indirect interest, as he serves as the Chairman of the Board of Directors of Jabal Omar Development Company and also as the Chairman of the Board of Directors of Saudi National Bank. Accordingly, the transaction will be presented to the upcoming General Assembly for approval and authorization. |
Comments