| Introduction |
Adeer Real Estate Company announces the signing of a contract on 11-06-2026 with Areeb Al-Mutatawirah Real Estate Company to provide exclusive marketing and sales services for a mixed-use tower located in the Jabal Omar area in Makkah Al-Mukaromah. The tower consists of 47 floors and comprises 471 units. |
| Date of Announcement of the Award |
2026-06-11 Corresponding to 1447-12-25 |
| Contract Subject Matter |
The contract was signed between Adeer Real Estate Company and Areeb Al-Mutatawirah Real Estate Company, in its capacity as the custodian company of a real estate fund managed by Areeb Capital, for the provision of exclusive marketing and sales services for a mixed-use tower consisting of 47 floors and 471 units. The tower is located in the Jabal Omar area in Makkah Al-Mukaromah, and the project will be developed and implemented in accordance with the applicable off-plan sales regulations. |
| The Entity with Which the Contract was Signed |
Areeb Al-Mutatawirah Real Estate Company |
| Date of Signing the Contract |
2026-06-11 Corresponding to 1447-12-25 |
| Contract Value |
The value of the contract is estimated at approximately 18% of Adeer Real Estate Company's revenues based on the latest audited annual financial statements of the Company. |
| Contract Details |
The contract was signed on 11-06-2026G between Adeer Real Estate Company and Areeb Al-Mutatawirah Real Estate Company, in its capacity as the custodian of a real estate fund managed by Areeb Capital, to provide exclusive marketing and sales services for a mixed-use tower consisting of 47 floors and 471 units. The tower is located in the Jabal Omar area in Makkah Al-Mukaromah. The project will be developed and executed in accordance with the applicable off-plan sales regulations. |
| Contract Duration |
The term of the contract is 36 months, commencing from the date on which the Company is notified to commence the marketing and sales activities. |
| Financial Impact and the Relevant Period |
The Company expects this contract to have a positive financial impact commencing from the start of the marketing and sale of the tower and the commencement of the project work. |
| Related Parties |
Areeb Al-Mutatawirah Real Estate Company |
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