Jabal Omar sells 400 units after foreign ownership limit
Jabal Omar Company announced its intention to offer 400 hotel residential units for sale during this year, aiming to reduce loan rates and generate profits from the development of the seventh phase of its project in Mecca. This comes after the Council of Ministers approved a regulation permitting non-Saudis to own property within specific geographic areas, in order to strengthen the real estate market and increase demand for property assets. The company affirms that this step will help improve its financial performance and boost its investments, especially as it owns a portfolio of approximately 6,500 hotel rooms.
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