The Commerce & Industry Ministry has approved plans by Jabal Omar Development Company to offer 30 per cent of its capital, equivalent to SR 201 million ($53.6 million), in an initial public offering (IPO). No timing has been set for the share sale.

The estimated SR 10,000 million-12,000 million ($2,666 million-3,120 million) Jabal Omar project calls for the construction over eight-10 years of a development in Mecca (MEED 14:4:06).