May 09 2011 |
more articles from
|
Jabal Omar to increase capital by SR2.58bn
By By GALAL FAKKAR JEDDAH: The Saudi Capital Market Authority (CMA) has approved the increase of Jabal Omar Development Company 's capital by SR2.58 billion. The subscription of the new shares would be restricted to shareholders who were on the list on the day of its general assembly meeting scheduled to be held end of this month.The nominal value and number the new shares to be floated for subscription would be decided after the stock exchange on the day of the general assembly meeting, informed sources said. The move comes as part of the company's efforts to complete the housing project located close to the Grand Mosque in Makkah as quickly as possible.
The company has appointed a new contractor after the previous contractor delayed the project that aims at building 36 residential towers comprising 12,000 rooms within the next three years to meet the requirements of the increasing number of pilgrims.
He said the pedestrian path would facilitate the movement of pilgrims and other worshippers who come from the side of the road and neighboring residential districts and help them reach the mosque quickly. "A tunnel will be established along Ibrahim Khaleel Street to facilitate the movement of vehicles and separate them from pedestrians," the source said.
Abdul Rahman Faqeeh, chairman of the company's board of directors, said the project was delayed because of changing contractors and because of delay in vacating owners of real estate properties that existed in the area. "Some owners have not yet vacated their properties worth SR405 million," he pointed out.
© Arab News 2011
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment