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FinancialNews
11-03-21
Jabal Omar Development to fund construction project in Makkah
(MENAFN)Jabal Omar Development Company confirmed a SR1.6 billion (USD426 million) financing agreement for its huge construction project in Makkah.
During a Tadawul stock exchange filing, the developer stated that the Ministry of Finance spotted a pledge for the credit facility given by Saudi Bank Fransi.
The finances will be applied to end the lasting work on the third phase of the sprawling Jabal Omar project that includes four towers with 2,160 rooms and an amount of commercial area of 26, 435 square meters.
Jabal Omar is a multi-use real estate mega development project within walking reserve of The Grand Mosque of Makkah.
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