Jabal Omar Development Company, one of Saudi Arabia’s largest-listed property developers, on Tuesday announced the liquidation of its subsidiary, Aliyat Company.
The activity of the wholly owned business unit, with a capital of SAR5.6 million ($1.5 million), has been merged into Jabal Omar Company, according to a disclosure on the Saudi Stock Exchange (Tadawul).
“It is not expected that there will be any material financial impact resulting from the voluntary liquidation of this company”, the real estate development firm said.
In 2019, Jabal Omar Development launched the subsidiary to…
