Jabal Omar wins SAR 2.70 billion project: what it means for Jabal Omar Development stock

Published on 10/19/2026 at 11:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached SAR 715.15 million and net income SAR 158.13 million. Jabal Omar Development stock was SAR 16.09 on October 19, 2026.

Project scale and operating results

A SAR 2.70 billion Phase Three contract was reported on October 18, 2026.
Second-quarter 2026 revenue reached SAR 715.15 million and net income SAR 158.13 million.
Market capitalization stood at SAR 19.0 billion as of October 19, 2026.

Jabal Omar Development, SA000A0MR864, Illustration mit AI erstellt.

Jabal Omar secured a SAR 2.70 billion Phase Three construction project in Makkah, Saudi Arabia, creating a fresh operating milestone for Jabal Omar Development stock. Gulf Construction reported the award on October 18, 2026.

What does the project mean for growth?

The contract covers Phase Three of the Jabal Omar development and includes four hotel towers with a total built-up area of 400,000 square meters. The construction joint venture includes Arabian Construction Company Saudi Arabia and Drake & Scull Construction Saudi Arabia, with the latter holding a 50 percent share of the contract value, according to Gulf Construction.

The project adds scale to a company whose latest reported quarter delivered SAR 715.15 million in revenue, SAR 158.13 million in net income and SAR 0.13 in earnings per share. Revenue declined from SAR 739.17 million in the previous quarter, while net income rose from SAR 116.99 million, according to Investing.com in figures for the quarter reported on August 9, 2026.

Three dated operating milestones

On May 13, 2026, Jabal Omar reported quarterly revenue of SAR 739.17 million. On August 9, 2026, the company reported second-quarter revenue of SAR 715.15 million and net income of SAR 158.13 million. On October 18, 2026, the SAR 2.70 billion Phase Three contract was reported, with four hotel towers and 400,000 square meters of planned construction.

What comes next for the stock?

Jabal Omar Development Company operates in real estate development, hotels and commercial centers around the Grand Mosque in Makkah. Global Banking & Finance Review identifies the company as Tadawul ticker 4250.SR under ISIN SA000A0MR864.

Stock valuation and project execution

The company had a market capitalization of SAR 19.0 billion as of October 19, 2026. Its latest reported quarterly figures show a sequential revenue decline of SAR 24.02 million, alongside a sequential net income increase of SAR 41.14 million. That combination makes delivery of the new hotel capacity an important operating measure for the development story.

Jabal Omar stock in Saudi riyals

Jabal Omar stock was trading at SAR 16.09 on Tadawul on October 19, 2026 at 11:54 a.m. AST. The company is scheduled to turn the SAR 2.70 billion project into four hotel towers, giving the contract a direct link to future operating capacity.