Jabal Omar plans to launch more funds, issue sukuk

26/10/2017 Argaam

Jabal Omar Development Co. has set up a SAR 6 billion fund as part of the company's strategy to develop investment products, said chief executive Yasser Faisal Al-Sharif.

Speaking on the sidelines of the Saudi Future Investment Initiative in Riyadh, Al-Sharif added that the developer is planning to launch more funds as well as issue sukuk.

In March, Jabal Omar sold some of its assets at the Makkah development project to Alinma Investment Co. at a total value of SAR 6 billion. The assets included three hotels (Makkah Conrad, Hilton Makkah, Hyatt Regency Makkah) and Al Khalil Shopping Center, data compiled by Argaam showed.

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