Sumou Real Estate Co. headquarters
Sumou Real Estate Co. signed on Sept. 11 an agreement to provide selling and marketing services for the one million square meter-Ajwan project in Khobar.
The agreement is valid for 42 months. Adeer Real Estate Co. will receive a 2.5% commission from the value of the sold units, including selling and marketing expenses, Sumou said in a statement to Tadawul.
The project is expected to have a positive financial impact on the company, once the off-plan sales license is received and implementation and sales begin.
Adeer is a related party to the agreement, Sumou added.
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