Sumou Real Estate to manage Al-Danat Resort’s infrastructure development, marketing

08/12/2021 Argaam

A building of Sumou Real Estate Co.

Sumou Real Estate Co. signed an agreement with First Gulf Real Estate Co. to manage the infrastructure development and marketing of the Al-Danat Resort project in Al Khobar, the company said today, Dec.8, in a bourse filing.

 

The project spans an area of more than 1 million square meters (sqm).

 

Under the 36-month contract, Sumou will obtain a fee of 10% of the total development cost starting from the issuance date of the off-plan sale license.

 

This agreement is projected to have a positive financial impact on Sumou’s results and revenues, starting from the issuance of the off-plan sales license.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read