Sumou says development fee equivalent to 10% of the project costs
Sumou Real Estate Co. signed an agreement to manage the development of the superstructure for Al Dhahiya Residence project in Makkah. 
The project involves the construction of 149 villas, in partnership with Al Dhahiya Real Estate Development and Investment Co.
In a statement to Tadawul, the company said the agreement was signed on April 29, under which it will oversee the project’s superstructure development.
Sumou will receive development fees equivalent to 10% of the project’s costs.
The contract spans 36 months, starting from the issuance date of the off-plan sales license.
The company expects the project to have a positive impact on its financial results once work begins.
Sumou says development fee equivalent to 10% of the project costs
Sumou Real Estate Co. signed an agreement to manage the development of the superstructure for Al Dhahiya Residence project in Makkah.
The project involves the construction of 149 villas, in partnership with Al Dhahiya Real Estate Development and Investment Co.
In a statement to Tadawul, the company said the agreement was signed on April 29, under which it will oversee the project’s superstructure development.
Sumou will receive development fees equivalent to 10% of the project’s costs.
The contract spans 36 months, starting from the issuance date of the off-plan sales license.
The company expects the project to have a positive impact on its financial results once work begins.
