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Sumou Real Estate Company announces signing of Infrastructure development agreement for a land in Riyadh city for area more than 3 million sqm with Adeer Asar Real Estate Company

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Introduction Sumou Real Estate Company announces signing of Infrastructure development agreement for a land in Riyadh City with Adeer Asar Real Estate Company for area more than 3 million sqm at 2-10-2022 corresponding to 6-3-1444
Date of Announcement of the Award 2022-10-02 Corresponding to 1444-03-06
Contract Subject Matter signing of Infrastructure development agreement for a land in Riyadh city for area more than 3 million sqm with Adeer Asar Real Estate Company
Date of Signing the Contract 2022-10-02 Corresponding to 1444-03-06
Contract Value Sumou Real Estate company will receive development fees of 8% from total project costs
Contract Details signing of Infrastructure development agreement for a land in Riyadh City with Adeer Asar Real Estate Company for area more than 3 million sqm at 2-10-2022 corresponding to 6-3-1444
Contract Duration 30 months from date of signing of the agreement
Financial Impact and the Relevant Period The project is expected to have a positive impact from date of signing the agreement
Related Parties Adeer Asar Real Estate Company (a related party)
Additional Information N/A

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