Sumou Signs Agreement with NHC to Develop Areem Makkah Project for SAR 680 Mln

Sumou Real Estate Co. announced on Sunday the signing of an agreement with the National Housing Company (NHC) to develop Areem Makkah Project and build residential units (villas) for approximately SAR 680 million.

The agreement includes the construction of villas on the company’s allocated land in Area No. (O2) of Makkah Gate Project, located in Makkah City, with a total area of 231,637.22 square metres.

The company stated that the contract term is 42 months from the effective date of the agreement and expects the project to have a positive impact on its results following the issuance of the off-plan sale license and the commencement of sales and implementation.