Sumou Real Estate Company announces signing of development agreement for Area No. 1/B of Dahiyat Al Fursan 1 & 2 on the lands allocated to Sumou Real Estate Company from the National Housing Company in Riyadh with area of 82,482.66 m2, to build residential units
Project Start Date
From the next day after receiving the land from the National Housing Company
Project Cost
403 Million
Financing method for the project
The project will be financed based on off-plan sales and partially on equity
Expected completion date of the project
42 months from the effective date
Expected Impact on the Company’s Financial Results
The project is expected to have a positive impact on the company's results at the start of sale and implementation.
Expected Date on Which the Impact on the Financial Results of the Company will Start
After the issuance of the off-plan sale license and the start of sale and implementation.
Expected Date for the Pilot Production of the Project to Begin
N/A
Duration of the pilot production of the project
N/A
Expected date for the commercial production of the project
N/A
Executing Party/Counter Party in the Project/Contract
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