Adeer said the 12-month agreement takes effect from the signing date.
Adeer Real Estatesigned an agreement with Sumou Holding on July 9 to market and sell developed land plots in the Jeddah Oasis masterplan, located in Jeddah’s Al Kawthar district. 
According to a statement on Tadawul, the project spans a total area of 707,250 square meters (sqm) and is being developed and marketed under the off-plan sales model.
Under the agreement, Adeer will receive a 2.5% commission on total sales, in addition to a 2.5% marketing fee to cover marketing and sales expenses, including the establishment of a sales center.
The 12-month agreement takes effect from the signing date and is expected to have a positive financial impact once the developed land plots are sold and transferred to buyers and the company collects its fees.
Adeer added that Sumou Holding is a related party.
Adeer said the 12-month agreement takes effect from the signing date.
Adeer Real Estatesigned an agreement with Sumou Holding on July 9 to market and sell developed land plots in the Jeddah Oasis masterplan, located in Jeddah’s Al Kawthar district.
According to a statement on Tadawul, the project spans a total area of 707,250 square meters (sqm) and is being developed and marketed under the off-plan sales model.
Under the agreement, Adeer will receive a 2.5% commission on total sales, in addition to a 2.5% marketing fee to cover marketing and sales expenses, including the establishment of a sales center.
The 12-month agreement takes effect from the signing date and is expected to have a positive financial impact once the developed land plots are sold and transferred to buyers and the company collects its fees.
Adeer added that Sumou Holding is a related party.
