Sumou obtains off-plan sales license for Anara project

Logo of Sumou Real Estate Co.

Sumou Real Estate Co. obtained on Nov. 9 the off-plan sales license No. 758 for the Anara project to build 753 housing units, the company said in a statement to Tadawul.

According to Argaam data, Sumou signed a development management agreement on Sept. 21 for the Anara project to build 753 residential units on a 748,022-square-meter plot located in Riyadh’s Al-Sahab district.

Under the deal, Sumou will receive development management fees of SAR 76.6 million, equivalent to 10% of the estimated project costs, excluding VAT.