Jabal Omar said the facilities will improve repayment schedule and enhance cash flows
Jabal Omar Development Co. signed a SAR 2 billion Murabaha facility agreement with Saudi National Bank (SNB) to refinance existing facilities on improved terms. 
In a statement to Tadawul, the company said that financing term is 15 years, with a provided guarantee of a mortgage of one asset under Jabal Omar project.
The new facilities will improve the repayment schedule and enhance the company’s cash flow sustainability.
The real estate developer also noted that Saeed Al-Ghamdi has an indirect interest, as he serves as the Chairman of the board of Jabal Omar and also as the Chairman of the board of SNB.
Accordingly, the transaction will be presented to the upcoming general assembly for approval and authorization, the statement added.
Jabal Omar said the facilities will improve repayment schedule and enhance cash flows
Jabal Omar Development Co. signed a SAR 2 billion Murabaha facility agreement with Saudi National Bank (SNB) to refinance existing facilities on improved terms.
In a statement to Tadawul, the company said that financing term is 15 years, with a provided guarantee of a mortgage of one asset under Jabal Omar project.
The new facilities will improve the repayment schedule and enhance the company’s cash flow sustainability.
The real estate developer also noted that Saeed Al-Ghamdi has an indirect interest, as he serves as the Chairman of the board of Jabal Omar and also as the Chairman of the board of SNB.
Accordingly, the transaction will be presented to the upcoming general assembly for approval and authorization, the statement added.
