Sumou signs agreement to manage infrastructure development for land located on Abqaiq Road

Sumou Real Estate Company announced on Thursday the signing of an agreement for developing infrastructure, superstructure, marketing and sales of lands and Residential units (off plan sales) for a land located on Abqaiq Road, Dhahran with an area of (268,901) m2 with Mr. Tarik Abd Al-Hady Al Qahtani.

The contract subject matter is developing, execution infrastructure and superstructure, marketing and sales of lands and Residential units (off plan sales) for a land located on Abqaiq Road, Dhahran with an area of (268,901) m2.

Sumou will receive 25% of the net sales of land and Residential units after deducting all project costs. The contract duration is 30 months from the signing of the agreement.

It is expected that this agreement will have a positive financial impact on the company’s revenues and results during the coming perio