DUBAI: Jabal Omar Development Co. has signed a SR5 billion ($1.33 billion) loan agreement with a group of local banks, the developer said in a statement yesterday.
The loan has a tenor of 12 years, with a four-year grace period on repayments, the filing to the Saudi stock exchange said.
Further details would be provided at a later date, the statement added. Jabal Omar shares rose 1.5 percent at 0815 GMT on the Saudi bourse.
