Yasser Al-Sharif, Jabal Omar CEO spoke in an interview at the World Economic Forum in Davos. Below are the main highlights from the interview: i) Jabal Omar to open Hilton Convention in Mecca within two months with the largest convention center in Saudi Arabia, which should contribute positively to the company’s operations, in management’s view; ii) the company has mandated Alinma Investment to launch real-estate fund valued at SAR6-10bn; iii) The company is in the process of redesigning phases 5, 6, and 7 in its flagship Mecca project to increase its built-up area; iv) Jabal Omar is also studying opportunities outside of Mecca, which may include Medina in the near future; v) the company is looking to reduce debt, considering the sale of Islamic bonds to increase debt maturity and widen its debtor base; vi) the decision to allow foreign investors to buy Jabal Omar shares rests with regulator; and vii) Al-Sharif says is “optimistic” about possible ways to allow investors to tap into the holy Muslim cities of Mecca and Medina “with the proper rules in place.” (Bloomberg)