{"url":"https://newsforagent.com/news/2026-11-01/jabal-omar-quarterly-net-loss","markdown_url":"https://newsforagent.com/news/2026-11-01/jabal-omar-quarterly-net-loss.md","title":"Jabal Omar Posts 261.61 Million Riyal Quarterly Net Loss","headline":"Jabal Omar Development Reports 261.61 Million Riyal Net Loss as Exceptional Gains Fall","description":"Jabal Omar Development posted a quarterly net loss of 261.61 million riyals on sales of 370.03 million riyals.","section":"Earnings & Results","published_at":"2026-11-01T07:29:17+00:00","modified_at":"2026-11-01T07:29:17+00:00","author":"News Desk","key_takeaways":["Jabal Omar Development reported a quarterly net loss of 261.61 million riyals and sales of 370.03 million riyals.","Exceptional gains fell by 510 million riyals in the quarter, while impairment provisions dropped by 107 million riyals.","Jabal Omar signed a SAR 2 billion Murabaha facility with Saudi National Bank in June 2026 on a 15-year term.","Waleed Al Harthi became CEO on September 6, 2026, after Saleh Alhabdan resigned effective September 3, 2026."],"companies":[{"name":"Jabal Omar","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00037jn/jabal-omar","website":"https://jabalomar.com.sa/en"}],"source":{"publisher":"The future of trading","title":"Jabal Omar Qtrly Net Loss 261.61 Million Riyals","url":"https://capital.com/en-int/news/jabal-omar-qtrly-net-loss-261-61-million-riyals"},"other_sources":[],"tags":["Earnings & Results","Jabal Omar"],"body_markdown":"[Jabal Omar](https://akta.pro/company-profiles/00037jn/jabal-omar) Development reported a quarterly net loss of 261.61 million riyals, with sales of 370.03 million riyals, according to [The future of trading](https://capital.com/en-int/news/jabal-omar-qtrly-net-loss-261-61-million-riyals). The Saudi real estate developer said the quarter saw a decrease in exceptional gains of 510 million riyals, increased finance costs and increased losses from changes in the fair value of financial instruments.\n\n## Inside Jabal Omar's Quarterly Loss\n\nJabal Omar said the quarter saw continued improvement in hotels performance and commercial centers. Impairment provisions fell by 107 million riyals. The company reported the figures alongside the net loss and sales totals.\n\nJabal Omar Development Company is a publicly listed Saudi developer building a mixed-use destination of more than 235,000 square meters adjacent to Al Masjid Al Haram in Makkah, serving Hajj and Umrah pilgrims, hotel operators, property investors and retail tenants. The company was founded in 2006 and is headquartered in Jeddah.\n\n## Jabal Omar's SAR 2 Billion Murabaha Facility\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Jabal Omar signed a SAR 2 billion Murabaha facility with Saudi National Bank in June 2026 on a 15-year term, secured by an asset mortgage within the Jabal Omar development, to refinance existing facilities and improve cash flow sustainability. The same records list a June 2026 post-IPO debt round of $532.7 million led by Saudi National Bank and an August 2025 post-IPO debt round of $533 million led by Al-Rajhi Bank. The records also show FY net profit of SAR 2,392.83 million.\n\n## Leadership Change and First-Half Revenue\n\nJabal Omar announced the resignation of CEO Saleh Alhabdan effective September 3, 2026, citing personal reasons, and the board appointed Waleed Al Harthi as CEO from September 6, 2026, [Argaam](https://akta.pro/news-signals) reported. The company reported revenues of SAR 1,454 million for H1 2026, up 16% year-over-year, driven by stronger domestic demand, Hajj season activity and the opening of the Rotana Hotel, Argaam reported. In June 2026, Jabal Omar announced plans to sell 400 hospitality residential units this year and develop Phase 7 of its Jabal Omar project, with proceeds primarily used to reduce debt, Argaam reported.\n\n## What Comes Next for Jabal Omar\n\nJabal Omar has said it plans to sell 400 hospitality residential units this year and develop Phase 7 of its Jabal Omar project, with proceeds primarily used to reduce debt. The company's hotel portfolio is expected to reach about 7,800 rooms with new hotels coming online, from more than 5,900 rooms currently operational, according to akta.pro company records.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}