Riyadh – Mubasher: Jabal Omar Development signed on Tuesday, 17 October a 6-month non-binding memorandum of understanding (MoU) with Bawabat Makkah Co. to provide it a land for the first phase of its project.
The MoU includes choosing the suitable location for Bawabat Makkah's project, signing long-term leasing contract between the two parties, and to develop a residential location for hotel employees.
Bawabat Makkah is a subsidiary of Al Balad Al Ameen Development Co.
Al Balad Al Ameen Development Co is a unit of Makkah’s municipality.
There is no financial impact after signing the agreement and there are no related parties.
By 11:14 am KSA time, Jabal Omar’s stock lost 0.46% to reach SAR 63.20.
