Saudi developer Jabal Omar has signed a loan agreement for 3 billion riyals ($800 million) with the finance ministry to complete some of its projects in Mecca, the company announced late on Tuesday.
"The loan will be repayed over eight years, two of which are a grace period," according to a statement issued via the bourse.
Jabal Omar is in charge of developing an area near the Grand Mosque in Mecca, Islam's holiest city. The project will include luxury hotels, shops and houses.
No comments:
Post a Comment