Riyadh - Mubasher: Jabal Omar Development Company announced signing a contract to sell a plot of land with an area of 5,649.1 square meters, within its project in Makkah Al-Mukarramah.

The company explained, in a statement on "Tadawul", today, Thursday, that the value of the deal amounts to 1.07 billion riyals.

She pointed out that the book value of the land amounts to 254.12 million riyals, including the development value.

She also pointed out that the reasons for the deal are due to the company's desire to implement the company's plan to improve the capital structure by reducing the company's debt and rationalizing financing costs.

She said the deal is expected to have a positive impact on the company's financial results after completion.