Mubasher TV
Contact Us Advertising   العربية

Sumou Real Estate pens deal to develop land in Eastern Province

Sumou Real Estate pens deal to develop land in Eastern Province
The deal carries a maturity period of 18 months.
SUMOU
4323
1.57% 38.75 0.60

Riyadh – Mubasher: Sumou Real Estate Company penned an agreement with AWJ Development and Real Estate Investment Ltd. to develop raw land located in the Eastern Province and spanning 213,000 square meters.

The 18-month contract has no specific value, as the company will receive a percentage of the sales value of the developed lands in exchange for bearing the costs of implementing and development of the project's land, according to a bourse statement on Sunday.

Moreover, the deal is predicted to have a positive financial impact after the completion of the development work and the sale of the developed plots.