Riyadh - Mubasher: Jabal Omar Development Company on Sunday announced that commercial operation at its Hilton Hotel Jabal Omar and main conference halls started on Friday, 31 March 2017.
Operations began after the company received the necessary licences from the relevant authorities, it said in a filing to the Saudi Stock Exchange (Tadawul).
Jabal Omar added that the new hotel was classified as a five-star hotel.
The wholly-owned hotel consists of 20 floors, 764 rooms and hotel suites, and three restaurants.
This hotel is not part of the company's real estate fund set up in collaboration with Alinma Investment Company, the statement showed.
The financial impact on shareholders rights will take effect starting from the third quarter of the current fiscal year.
Last month, Jabal Omar announced signing three contracts to sell three hotels valued at SAR 6 billion, namely Conrad Makkah, Hilton Suites Makkah, and Hyatt Regency Makkah.
The company's stock ended Thursday’s trading session at SAR 67.99, slipping 0.13%.
