Riyadh – Mubasher: Jabal Omar Development on Thursday announced its plans to establish two specialised companies in hotel, resort, and commercial markets asset management with a total capital of SAR 20 million.
The first firm will be a 90%-subsidiary of Jabal Omar. It will work in hotel and resort asset management and the hospitality services sector with a capital of SAR 15 million, the Kingdom-based company's statement to the Saudi Stock Exchange (Tadawul) said.
The second company will be a 60%-subsidiary, and it will be specialised in commercial markets sector management with a capital of SAR 5 million.
The two firms will be self-financed, and their establishment is expected to be completed during the fourth quarter of 2017.
