Jabal Omar to sell 400 hotel condos
Jabal Omar Development Company plans to launch 400 hotel residential units for sale during the current year as part of its strategy to enhance the project's value, following the approval of the Cabinet regarding the regulations for non-Saudi ownership of property in the central area of Mecca. The company aims to reduce its debts and expand its investor base, focusing on redevelopment of Phase Seven of the project and increasing the number of units available for sale to boost profitability and provide greater flexibility in asset management. Currently, the company owns over 6,500 rooms and hotel units, with the number expected to rise to approximately 7,700 rooms upon completion of Phase Four.
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