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.
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more