Jabal Omar agrees $426m finance to complete four towers in Makkah
Published 10 Mar,2021 via Arab News - Economy - Jabal Omar Development Company has agreed a SR1.6 billion ($426 million) financing deal for its vast construction project in Makkah.
The Ministry of Finance has issued a guarantee for the credit facility provided by Saudi Bank Fransi, the developer said in a Tadawul stock exchange filing on Wednesday.
The funds will be used to complete the remaining work on the third phase of the sprawling Jabal Omar project, which consists of four towers with 2,160 rooms and a total commercial area of 26, 435 square meters.
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