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FINANCIAL NEWS
Saudi Jabal Omar to obtain a USD800m loan from govt
15 Dec 2011
(MENAFN) Jabal Omar, the Saudi developer, said that it inked a USD800 million loan deal with the Finance Ministry to finish some of the company’s projects in Makkah, reported Reuters.
The firm added that its shareholders approved a 38.4 percent capital raise to USD2.4 billion through a rights issue, of which part of the proceeds went to pay back a USD93 million bridge loan from a local commercial bank.
It also said that the largest part of the cost of the first phase of the project would be financed through a syndicated USD1.3 billion loan from local banks.
It is worth noting that the project includes developing an area near the Grand Mosque in Makkah that would contain luxury hotels, shops and houses.
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BBK discloses its financial results for the half year ended 30th June 2025
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BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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