17/07/2017 06:04 AST

Jabal Omar Development Company, the area's leading property developer and Dubai Holding, signed an agreement to develop Jabal Omar Jumeirah Makkah Hotel. Under the agreement, Jumeirah Group the world-renowned luxury hospitality brand, will manage the new four-tower hotel with stunning views within walking distance of the Holy Mosque.

The hotel will feature 1033 hotel rooms along with 93 villas. The hotel features its own restaurants and spectacular views, as well as numerous meeting and conference facilities, a sports club and over 90 retail outlets. The Jebel Omar Jumeirah Makkah Hotel will be operational in early 2019.

This is a strategic addition that will enhance the global presence of Jumeirah Group, bringing the number of luxury hotels and resorts to 22 hotels and luxury resorts with 7,164 hotel rooms worldwide.

Commenting on the agreement, Jebel Omar's Chief Executive Officer Yasser Bin Faisal Al Sharif said: "Jebel Omar Development Company is committed to offering superior, five-star hospitality services in the Holy City and we are pleased to partner with Jumeirah Group for this development.

We are pleased to work with an established global hospitality brand grown in our region, and look forward to fruitful cooperation with Dubai Holding to reap mutual benefit for our guests and shareholders alike. I am confident that this partnership will create the most iconic property in Makkah."

Abdulla Al Habbai, Chairman of Dubai Holding, said: "Dubai Holding takes great honor in announcing the addition of this unique property to the Jumeirah Group portfolio. As the company embarks on its next phase of growth, adding such a strategic and large hotel to the portfolio is a key milestone in our ambitious international expansion strategy. Jabal Omar Jumeirah Makkah Hotel will significantly boost its growth in the coming years. It will also mark the Group's first presence in the Kingdom of Saudi Arabia in Makkah, one of the holiest sites in the world and the highest in real estate value.


Saudi Gazette

Jabal Omar plans to build passenger terminal in Makkah

04/03/2018

Jabal Omar Development Company, the largest listed real estate group in Saudi Arabia by market capitalisation, said it has signed a deal with Saudi Ground Services Company (SGS) to conduct a joint st

Trade Arabia

Saudi developer Jabal Omar to close Umm Al Qura merger deal in 2018

02/03/2018

Jabal Omar Development Co. , one of Saudi Arabia's largest listed property developers, expects to finalize its merger deal with Umm Al Qura Development and Construction in 2018, a senior company exec

Arab News

Saudi's Jabal Omar picks two banks for sukuk sale early next year

01/11/2017

Saudi Arabia's Jabal Omar Development Co, one of the country's largest listed property developers, has hired two banks to manage a sukuk sale which could exceed 4 billion riyals ($1.07 billion) and i

Reuters

Ticker Price Volume
NAYIFAT 13.94 229,739
ALRAZI 43.00 800
RIBL 24.84 6,676,931
ALRAJHI 85.00 7,711,297
ABC 0.35 370,000
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409
JABALOMAR Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
MCDC 120.20 1.40 (1.17%)
DARALARKAN 14.98 0.02 (0.13%)
TAIBA 47.05 0.30 (0.64%)
EMAAREC 8.88 -0.08 (-0.90%)
CENOMICENTERS 20.24 0.00 (0.00%)
EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula