JAZAN DEVELOPMENT COMPLETES 92% OF ITS BUILDING COMPLEX

18/12/2013 Argaam

Jazan Development Co. announces the latest developments of its Building Complex as following:
1. The event in the previous announcement: The start of its Building Complex
2. Announced on 26-08-2008
3. Progress rate achieved is 92%
4. Expected Finishing of this event is on 30-06-2014
5. The delay reasons delay in getting approvals for services, utilities, shortage of skilled labor in the area and termination of some contracts and entering into new contracts with other contractors.
6. Cost related of event is increased due to increase in Building materials and labor cost.
7. Expected financial impact of delay on financial statement: No negative impact due to high increase in rent (expected income) in the area. 

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