Riyadh – Mubasher: Jabal Omar Development Company (JODC) has signed a facility agreement with Bank Albilad to obtain SAR 1 billion that will be repaid in equal semi-annual instalments.
The loan duration is eight years starting from 9 December 2021, with a 12-month grace period, according to a bourse filing on Tadawul.
The real estate developer noted that the provided guarantees for the financing will be related to real estate assets within the Jabal Omar Project.
JODC has secured this loan to repay SAR 643.73 million worth of existing facility to the Saudi lender.
