Jabal Omar Development Company recorded losses amounting to 393.8 million riyals during 2019, against a profit of 193.78 million riyals during 2018.
According to ArabiaNet, the company said in a statement that the reason for achieving the net loss is due to the decrease in revenues from sales of housing units, as the revenue for the year 2018 included the sale of residential units in one time.
The company stated that the accumulated losses at the end of 2019 amounted to 181.653 million riyals, equivalent to 1.95% of the company's capital.
