Jabal Omar sells 400 units after foreign ownership rules
Jabal Omar Company has announced its plans to capitalize on the decision allowing foreigners to own property in the Kingdom, by offering 400 hotel residential units for sale during this year. This aligns with its strategy to reduce reliance on loans, improve profitability, and increase the number of hotel units designated for sale, alongside developing the seventh phase of its project in Mecca. Currently, Jabal Omar owns a real estate portfolio comprising approximately 6,500 hotel rooms, with an estimated market value of around 17.5 billion riyals.
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