| Element List |
Explanation |
| Introduction |
Sumou Real Estate Company announces the signing of an agreement of the development and execution of the infrastructure works in North Obhor neighborhood in the city of Jeddah, with a total area of 960,000 m², on 19-10-2025 AD, corresponding to 27-04-1447H, with Diyar Real Estate Development Fund Company which represents a real estate fund managed by Sedco Capital Company. |
| Date of Announcement of the Award |
2025-08-17 Corresponding to 1447-02-23 |
| Contract Subject Matter |
Sumou Real Estate Company will develop and execute the works for an infrastructure Project located in North Obhor Neighborhood in the city of Jeddah with a total area of 960,000 square meters, in cooperation with Diyar Real Estate Development Company which represents a real estate fund managed by Sedco Capital Company. |
| The Entity with Which the Contract was Signed |
Diyar Real Estate Development Fund Company which represents a real estate fund managed by Sedco Capital Company |
| Date of Signing the Contract |
2025-10-19 Corresponding to 1447-04-27 |
| Contract Value |
With an estimated value of 135,000,000 SR excluding VAT |
| Contract Details |
Sumou Real Estate Company will develop and execute the works for an infrastructure Project located in North Obhor Neighborhood in the city of Jeddah with a total area of 960,000 square meters, in cooperation with Diyar Real Estate Development Company which represents a real estate fund managed by Sedco Capital Company, With an estimated value of 135,000,000 SR excluding VAT, the contract was signed on 19-10-2025 Corresponding to 27-04-1447.. |
| Contract Duration |
24 months starting from the issuance of the project license required for executing and selling the project. |
| Financial Impact and the Relevant Period |
The project is expected to have a positive impact on the Company’s results. |
| Related Parties |
N/A |
| Additional Information |
N/A |
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