Sumou inks SAR 680M development agreement in Makkah
25/05/2025 Argaam
Sumou headquarters
Sumou Real Estate Co. announced signing, on May 22, an agreement with National Housing Co. (NHC) to develop Areem Makkah project on the land plots allocated to Sumou within Makkah Gate project, according to a statement to Tadawul.
Area O2 spans around 231,600 square meters.
The 42-month agreement begins May 23, 2025, with an estimated value of SAR 680 million (excluding VAT).
The project will likely have a positive impact once the off-plan license is obtained and sales are launched.
The agreement included no related parties, the statement added.