Sumou Signs Agreement to Develop Sedco Capital Infrastructure Project in Riyadh for SAR 26.4 Million

Sumou Real Estate Company announced on Thursday the signing of an agreement with the Sedco Capital Sumou Al Ramal Fund, represented by Ramla Real Estate Fund Company, to develop and implement the infrastructure of the Sedco Capital Sumou Al Ramal project in Riyadh, with an area of 240,000 square meters, for SAR 26.4 million.

The company explained that the contract duration is 24 months, starting from the date of receiving the permit to start work from the Riyadh Municipality.

According to the statement published on “Tadawul”, the project is expected to have a positive impact on the company’s results as of the date of starting work on the project.