Jabal Omar sells land plot for SAR 1.1B, gains SAR 818.2M 

21/11/2024 Argaam
Logo ofJabal Omar Development Co. (JODC)

Logo of Jabal Omar Development Co. (JODC) 

Jabal Omar Development Co. (JODC) signed, on Nov. 20, an agreement to sell a land plot for SAR 1.07 billion in its Makkah project to Hamad Al Mohaissin.
In a statement to Tadawul, JODC said the land’s book value stands at SAR 254.12 million, including the development value. The land plot spans a total area of 5,649.1 square meters (sqm).
 
 

 

The deal was sealed as the real estate developer plans to enhance its capital structure by reducing debt obligations and optimizing its financing cost.

 

It is expected to have a positive financial impact on the company’s results once completed.

 

Based on Argaam calculations, JODC made a capital gain of SAR 818.2 million. 

 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.