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Jabal Omar company and Al-Enmaa for investment establish real estate development in KSA

Saudi Arabia - August 28, 2016
جبل عمر

Jabal Omar company for real estate development, which based in Saudi Arabia, assigned memorandum of Understanding to buy and re-rent real estate assets with Al-Enmaa for investment in Saudi Arabia, in order to establish the real estate investment fund to generate income according to the capital market system and its implementing regulations.
The company explains in a statement to Saudi capital market “Tadawul” that the memorandum of understanding duration is five months from the signature date, the fund will acquire some operating assets which generate income.

It is worth to be mention that Al-Enmaa for investment company will do the due diligence for the asset purchase process, in addition to getting necessary approval from the market capital authority and complete the purchase and lease, in order to complete the purchase assets.

According to the statement, in the case of the purchase completing, the Al-Enmaa company will lease back the assets to Jabal Omar company with retaining its right to buy back assets starting from the fifth year of the Fund which specified ten years.

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