Sumou Signs Development, Marketing Management Deal for Residential Villas Project In Dhahran

Sumou Real Estate Company announced the signing of development and marketing agreement to build and sell (190) residential villas within a residential complex (compound) on area of (59,584) m2 located on Eastern Province – Dhahran.

In return, the company will receive a fee equal to (10%) of the total cost payable during the agreement period of (24) months starting from the date of issuance of the off-plan sale license. The agreement was signed with Mr. Tarek bin Abdulhadi El-Qahtani on 7-11-2021.

The impact of this agreement on the company’s result and revenues is expected to be positive effective from the date of issuance of the off-plan sale license.