RIYADH: Jabal Omar Development Co. has increased its share offer to Alinma Makkah Real Estate Fund’s manager to settle payment obligations owed by the developer to the fund.

The offer was revised from 193.07 million to 225.13 million shares with an added binding agreement whereby the fund is required to sign the offer by Feb. 10, 2022, at the latest, the company said in a filing to the Saudi Stock Exchange on Thursday.

Earlier in September, the developer had submitted a non-binding offer to Alinma Makkah Real Estate Fund’s manager to settle its liabilities.