Saudi Arabian developer, Jabal Omar Development Co., plans to set up two subsidiaries with a total capital of SAR 20 mn, Invest-Gate reports.

The first subsidiary will be 90% owned by Jabal Omar, and operate in the field of hotel and resort asset management, and hosting services with a total capital of SAR 15 mn, according to a bourse statement.

To manage shopping malls, the second unit will be 60% owned by the Saudi-listed developer, with a total capital of SAR 5 mn.

The establishment of both units will be financed from Jabal Omar’s internal resources, with expectation to be completed during the fourth quarter of 2017.