Riyadh - Mubasher: Jabal Omar Development Company signed a SAR 2 billion Murabaha facility agreement with Al Rajhi Bank to refinance existing debt on better terms.

The financing, obtained on 18 August 2025, has a five-year duration with the option to extend for an additional three years, according to a bourse disclosure.

Backed by a mortgage of two assets within the Jabal Omar project, the new facility will optimize repayments, support cash flow, and improve the loan mortgage structure, strengthening the company’s debt profile.

During the first half (H1) of 2025, Jabal Omar posted an annual leap of 1,627% in net profits to SAR 903.88 million, versus SAR 52.32 million.

As of 30 June 2025, Al Rajhi Bank generated net profits valued at SAR 12.05 billion, reflecting a 32.45% surge from SAR 9.10 billion in H1-24.