Sumou Real Estate signs development, marketing deal of Al-Danat Resort project in AlKhobar

Sumou Real Estate Company announces the signing of development and marketing of Al-Danat Resort project in AlKhobar city with total area of one million sqm with First Gulf Real Estate Company.

In return, Sumou real estate will receive a fee of (10%) of the total development cost to be paid during the agreement period of (36) months starting from the date of issuance of the off-plan sale license.

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