Jabal Omar Development signs a new Islamic finance program

Saudi Arabia Jabal Omar

Jabal Omar Development Co. has announced attaining an Islamic finance from both SAAB and SAMBA banks at a value of 8 billion SAR for 12 years. The new finance agreement was signed for completing Jabal Omar project in Mecca.

The company said in a statement to the stock exchange market last Thursday that the new loan targets completing the second phase, foruth phase, and the fifth phase of Jabal Omar project in Mecca.

The company is currently working on Jabal Omar projecet which liex next to the Holy Mosque. The company has leased also a number of hotel and retail shops in Al Khalil Ibrahim Street overlooking the eastern part of the Holy Mosque.