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Jabal Omar Development CO signs $1.3bn loan deal
- Saudi Arabia: Tuesday, June 19 - 2012 at 11:17
Saudi Arabia's Jabal Omar Development Co has signed a SR5bn ($1.3bn) loan agreement with a group of seven local banks to refinance an upcoming bridge loan maturity and fund the development of hotels and shops in Makkah, Reuters has reported. The loan, which runs for 12 years, with a four-year grace period on repayments, will refinance a SR1.35bn bridge loan, and fund the company's commercial development project in the Holy City.
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StaffTuesday, June 19 - 2012 at 11:17 UAE local time (GMT+4)
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