On June 28, 2026, Jabal Omar Development Company announced its strategy to capitalize on the Council of Ministers' approval of regulations allowing non-Saudi real estate ownership in designated areas, including the Jabal Omar Project. The company plans to offer 400 existing hotel residential units for sale in the current year as a first phase, with proceeds primarily directed toward debt reduction. Additionally, the company will develop the seventh and final phase of the Jabal Omar Project, focusing on increasing hotel residential units for sale and utilizing off-plan sales to reduce financing requirements. The company currently owns over 6,500 hotel rooms and suites, expected to reach 7,700 upon completion of Phase Four, and all initiatives remain subject to regulatory approvals.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.