Jabal Omar gets regulatory nod to widen Makkah project

08/03/2017 Argaam

Makkah Region Development Authority has approved Jabal Omar Development’s request to increase the construction area of phases 5, 6 and 7 of the Jabal Omar Project in Makkah, the company said in a statement Wednesday.

 

The total construction area will increase by 494,622 square meters, to 1.66 million square meters from 1.17 million square meters.

 

The company expects the decision have a positive impact on the value of assets, the return on investment and the operating income by the time the project is finished.  

 

The Capital Market Authority (CMA) had suspended Jabal Omar from trading today pending this announcement. 

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