Jabal Omar Development Company (Jabal Omar) has finalized the sale of 90 residential units to Albilad Capital and has received the full sale price of SAR 1.105 billion, it said in a statement to Tadawul.
The real estate developer has met all the accounting and external auditor’s requirements so that the deal would reflect positively on Q3 results, it added.
Jabal Omar first inked the agreement with Albilad Capital on May 17. Chairman Abdulaziz Subaie and board member Anas bin Mohammad Saleh Saerafi were related parties, Argaam previously reported.
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