Sumou Real Estate Co. headquarters
Sumou Real Estate Co. signed a development and marketing agreement with related parties - Adeer Holding Co. and Adeer Real Estate Co. - for 251 residential villas in Areen project, Al Khobar, according to a bourse statement.
In return, Sumou will receive a 10% fee of the total development cost, paid during the agreement period of 30 months, starting from the date of issuing the off-plan sale license.
The agreement will have a positive impact on the company’s financials, effective from the date of issuing the off-plan sale license.
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