JODC Launches All Phases of Jabal Omar Master Project

15
  • JODC seeks to utilize all resources available as a key contributor to Saudi’s Vision 2030, by supporting the Kingdom in achieving its goal of hosting 30 million pilgrims by 2030
  • JODC continues to develop ongoing project phases at an expedited pace with increasing delivery rates
  • Phases 2 and 3 is targeted for completion by Q4 2022, with Phase 4 targeted to be completed by Q4 2024

Makkah, KSA: Jabal Omar Development Company (“JODC” or the “Company”), one of the largest real estate development companies in the Kingdom of Saudi Arabia, has today announced the launch of all current phases (2, 3, and 4) in Jabal Omar master project. With a clear roadmap of increasing delivery rates and commitment to utilizing all resources available to the Company, Jabal Omar will continue to support and contribute to the Kingdom’s Saudi’s Vision 2030 goal of hosting 30 million pilgrims by 2030, as well as raising the level and quality of services provided to the pilgrims in order to enrich their experience. As a result, the Company continues to mobilize and ramp up construction work in Phases 2, 3, which are expected to be completed starting from Q4 2022. Most recently, construction work on phase 4 has resumed, and is expected to be completed by Q4 2024.

In order to ensure successful, timely, on-budget and safe completion of the various phases, JODC has signed strategic partnership agreements with several key construction and project management companies, including Fluor International, which will act as the Project Management Consultant for the project. Through integrating and managing the activities of all contractors and subcontractors on the ground, Fluor International will ensure successful, high-quality delivery, consistent with Jabal Omar’s quality and safety requirements and standards.

To mark this milestone and landmark moment, the Company held a signing ceremony at the Hilton Makkah Convention Hotel, which was attended by representatives from JODC’s main contractors, consulting companies, infrastructure companies, and financing banks. During the event, JODC’s Saeed Mohammed Alghamdi, Chairman of the Board; Khaled Al Amoudi, Chief Executive Officer; and Saad bin Aiban, the Chief Development & Projects Manager, addressed their partners and commented on this significant milestone for the Company.

“As part of the Company’s strategic transformation plan, we have started executing on the vital initiatives within JODC’s comprehensive financial, organizational and operational strategic optimization plan. This has enabled us to set clear targets for all the project’s existing phases as we continue to strive towards increasing delivery rates.” Khaled Al Amoudi, Chief Executive Officer of JODC said.

“Despite the significant achievements that we have made, the challenges we encountered to reach this stage cannot be ignored. Despite the numerous challenges we overcame during the pandemic in the last two years, our continued perseverance allowed us to attain the accomplishments we have achieved. This reflects strongly on the wise and insightful vision and stewardship of The Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al Saud; His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince; and the relentless efforts of the Ministry of Health and the Ministry of Hajj and Umrah.” Al Amoudi added.

Saad bin Aiban, Chief Development and Projects Manager, said: “We have partnered with renowned experts to complete all project’s existing phases and the infrastructure as per the revised target launch, which is testament to the entire team at JODC and an achievement we are proud of, especially given the delays in the construction work as a result of the global pandemic, and other challenges that the Kingdom’s real estate sector faced. From now on, we will work to harness all required resources, from financial to human capital, to ensure timely and on-budget completion of the project while ensuring we continue to adhere to the highest quality and safety standards that JODC is known for. We look forward to updating the market on a regular basis with our progress as we shape and add vitality to the urban landscape of the Holy City of Makkah with our iconic developments.”

“Our focus is firmly on developing phases 2, 3, and 4, which have completion rates of 88%, 93%, and 63% respectively. Each of the phases are mixed-use developments comprised of hospitality, commercial, luxury residential units, and parking lots, with a combined land area of over 68,000 square meters. The three phases, once complete, will comprise a total of 15 towers, including 5-star and 4-star luxury hotels with a total of 5,000 keys that will be operated by internationally renowned hotel operators, including Jumeirah International Hotel Group (Jumeirah Hotel), Archipelago International (The Alana Makkah and The Royal Alana Makkah), H Hotels & Resorts (H Hotel) and Emaar Hospitality (The Address Hotel), including DoubleTree by Hilton which opened in late 2019” bin Aiban added.

The Jabal Omar master project is comprised of several phases, with a land area of over 235,000 square meters and a built-up area of over 2.5 million square meters with a total of 46 towers which include hospitality, commercial and residential developments. To date, Phase 1 of the master project has been 100% completed (in Q1 2017) with a total land area and built-up area of 27,000 square meters and over 523,000 square meters, respectively.

Jabal Omar’s strategic, accessible, and prime location in close proximity to the Grand Mosque as well its deep knowledge and expertise of Makkah’s unique real estate sector, makes it a key enabler and beneficiary of the strategic Hajj and Umrah sector.