Riyadh – Mubasher: Jabal Omar Development Company’s (JODC) board of directors approved the company's new strategic principles for the upcoming ten years, which will be based on the following:
First: Converting JODC into a holding company that owns its current and any future projects via subsidiaries established for this purpose.
Second: Adopting a geographical expansion targeting investment in development and real estate projects in Mecca and Medina.
Third: Approving long-term leasing, selling and operation.
These three principles form a basis for cash flow formulation, as well as assessing and financing investment opportunities.
The company will finalise the technical, financial and legal studies and submit them to the extraordinary general meeting for approval, according to a statement published on Tadawul website.
Meanwhile, the company earlier logged losses of SAR 75 million in the the first quarter of 1437 H.
