{"id":16671,"date":"2017-07-30T12:57:53","date_gmt":"2017-07-30T09:57:53","guid":{"rendered":"http:\/\/www.amlak.net.sa\/?p=16671"},"modified":"2017-07-30T12:57:53","modified_gmt":"2017-07-30T09:57:53","slug":"%d8%ac%d8%a8%d9%84-%d8%b9%d9%85%d8%b1-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ad%d9%88%d8%a7%d8%b0-%d8%b9%d9%84%d9%89-%d8%ad%d8%b5%d8%b5-%d9%81%d9%8a-%d8%b4%d8%b1","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/16671\/","title":{"rendered":"\u201cJabal Omar to acquire stakes in Umm Al-Qura for Development and Reconstruction\u201d"},"content":{"rendered":"

 <\/p>\n

Jabal Omar Development Company announced that it has submitted a non-binding letter of intent to the board of directors of Umm Al Qura for Development and Construction to acquire the entire company or a controlling stake in it.<\/p>\n

The company said in a statement that the determination of the acquisition share will be after completing the evaluation and due diligence work, and after fulfilling all the necessary regulatory requirements and approvals according to the regulations of the Capital Market Authority and all relevant official authorities, and indicated that if approved, a non-binding memorandum of understanding will be signed, which will include all stages of the acquisition process.<\/p>\n

The company noted in its statement that Umm Al-Qura's activity is based on the development and reconstruction of King Abdulaziz Road in the Holy Capital (the parallel road), and this letter was sent by Jabal Omar Development Company in order to support the expansion of the company's main activities in the future.<\/p>","protected":false},"excerpt":{"rendered":"

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