Jabal Omar Development Company, in collaboration with Al-Inmaa Investment Company, plans to establish a real estate investment fund that generates income, pursuant to an agreement between the two parties and in accordance with the Capital Market Law and its implementing regulations, for the purpose of selling and leaseback of real estate assets. The fund will acquire certain operating assets located within the first phase of the Jabal Omar project in Makkah, which includes five hotels and four shopping centers.

Pursuant to this agreement, Al-Inmaa Investment Company will conduct due diligence for the purchase of the assets, obtain the necessary approvals from the Capital Market Authority, and finalize the purchase and lease agreements in preparation for the completion of the asset acquisition, It should be noted that, upon completion of the purchase, Al-Inmaa Investment Company will lease the assets back to Jabal Omar Company, and Jabal Omar Company will retain the right to repurchase the assets during the fund’s ten-year term.

The financial impact of this sale is expected to be reflected in the second fiscal quarter of 1438 AH, following the completion of the fund’s establishment and the acquisition of the assets by Al-Inmaa Investment Company.