Sumou Real Estate Co.headquarters
Sumou Real Estate Co.signed on Sept. 21 a development management agreement for Anara Project to build 753 residential units on the land plot spanning 748,022 square meters in Al-Sahab district, Riyadh, according to a statement toTadawul.
For more news and details on the projects
Sumou is entitled to receive development management fees at an estimated value of SAR 76.6 million, representing 10% of the estimated project costs, excluding VAT.
The agreement was signed with Maali AlJazira Real Estate Co., representing AlJazira Sumou Real Estate Fund.
The agreement duration is 36 months starting from the issuance of the project license by the Real Estate General Authority.
The project is expected to have a positive impact on the company’s results after the issuance of the off-plan sales license and the commencement of sales and implementation.
The agreement included no related parties, the statement added.
Sumou Real Estate Co.headquarters
Sumou Real Estate Co.signed on Sept. 21 a development management agreement for Anara Project to build 753 residential units on the land plot spanning 748,022 square meters in Al-Sahab district, Riyadh, according to a statement toTadawul.
For more news and details on the projects
Sumou is entitled to receive development management fees at an estimated value of SAR 76.6 million, representing 10% of the estimated project costs, excluding VAT.
The agreement was signed with Maali AlJazira Real Estate Co., representing AlJazira Sumou Real Estate Fund.
The agreement duration is 36 months starting from the issuance of the project license by the Real Estate General Authority.
The project is expected to have a positive impact on the company’s results after the issuance of the off-plan sales license and the commencement of sales and implementation.
The agreement included no related parties, the statement added.
