Jabal Omar Development Company signed the largest financing agreement (syndicated loan) for the company estimated at eight billion riyals with SABB and Samba banks last Wednesday evening at the Jeddah Hilton Hotel, under the Sharia-compliant lease system, for the purpose of completing the construction and implementation of the second and fourth phase and the construction and implementation of the fifth phase of its project located in Makkah, noting that the financing period is twelve years from the date of signing the agreement with many advantages given to the company for the first time in its financing agreements.

On this occasion, M. Samir Al-Qurashi, CEO of the company, confirmed that this agreement will contribute to the speedy completion of the implementation of the project phases, the operation of hotels and residential units and the leasing of commercial markets, thus cutting a major stage in the development of the project, and Al-Qurashi pointed out that the Board of Directors is currently working on reformulating a new vision and strategy for the company that will contribute, God willing, to achieve the hopes and ambitions of the company's customers, shareholders, partners and employees and place the company among the best real estate development companies in the Kingdom.

Al-Qurashi pointed out that the company is currently working to reformulate a new vision and strategy for the company. <It is worth noting that the idea of the project was launched to develop the Jabal Omar area overlooking the square of the Grand Mosque from the western side on a land area of 230 thousand square meters, in line with the generous desire of the wise leadership to upgrade the central area surrounding the Grand Mosque as a destination for large crowds of pilgrims, Umrah performers, residents and visitors and the need to find appropriate and safe housing and services for those increasing numbers of people who come to the Holy House of God. The project is built on a land area of 230 thousand square meters, with a construction area of 1,952 million square meters, for nearly 20 years, during which the project went through many stages of technical, financial and administrative studies and architectural competitions, and the project's planning and organizational idea was developed with the contribution of major international expertise and consulting houses, to be an example to be followed, God willing, to improve the urbanization of the Holy Land and serve the residents of Makkah and visitors to the Sacred Mosque.