Riyadh – Mubasher: The contract signed between Jabal Omar Development and Alinma Investment worth SAR 6 billion to establish a real estate fund is part of the company’s restructuring to offer new products of valuable yields, Jabal Omar CEO Yasser Al Sharif said.
Al Sharif noted in an interview with CNBC Arabia that the purchase of the remaining cash stake of Makkah Construction has not been finalised yet.
The company’s revenues in the first quarter of the year were a result of selling housing units similar to the last quarter of last year, the CEO added.
Moreover, Al Sharif pinpointed that the volume of sales of housing units reached around SAR 180 million, in addition to enhancing the operating yields of hotels in operation, including Conrad Hotel.
