Jabal Omar licensed to sell 741 off-plan units in Address Makkah hotel

Jabal Omar Development Co. has obtained the initial licensing to sell 741 off-plan hotel units in the third phase of Jabal Omar Address Makkah project.

Jabal Omar received the approval of the Saudi Arabia’s Wafi program, the online platform launched by the housing ministry, on Sep. 11, 2018, the company said in a bourse filing.

The Wafi online platform was set up by the Saudi government for granting off-plan sales and leasing, organizing relations between real estate developers and specialists in the sector, registering title deeds, filing complaints, and follow-up services. 

In June 2017, Jabal Omar signed an agreement with United Arab Emirates’ Emaar Hospitality's hotel brand, Address Hotels and Resorts, to manage its new hotel in Makkah. This hotel marks the first expansion of Address Hotels and Resorts into the Kingdom. The Jabal Omar Address Makkah, scheduled to open in 2019, is located just steps away from the Grand Mosque.