Mubasher TV
Contact Us Advertising   العربية

Sumou Real Estate acquires 80% stake in Al-Mahafel Trading and Contracting

Sumou Real Estate acquires 80% stake in Al-Mahafel Trading and Contracting
Al-Mahafel will develop a land in the Makkah region
SUMOU
4323
1.57% 38.75 0.60

Riyadh – Mubasher: Sumou Real Estate Company has acquired an 80% stake in Al-Mahafel Trading and Contracting Company.

Al-Mahafel will develop a land, spanning across 1.32 million square meters in the Makkah region, to establish a multi-purpose market through a 25-year lease contract, according to a bourse filing on Thursday.

Sumou Real Estate Company will manage the development and implementation of the project.

The acquisition will have a positive impact on the company's financial results effective from the start of the project's operation.