Riyadh – Mubasher: Adeer Real Estate Company has entered into a contract with Sumou Holding to provide marketing and sales services for the Jeddah Oases project, a major land development spanning 707,254 square meters.

Located in the Al Kauthar district of Jeddah, the project will be developed and marketed through an off-plan sales system, according to a bourse disclosure.

The agreement, which was signed on 9 July 2026, carries a duration of 12 months.

Under the financial terms of the deal, Adeer Real Estate will earn a 2.50% brokerage commission on sales.

Additionally, the company will receive a 2.50% marketing fee to cover operational costs, including the establishment of a dedicated sales center and general marketing activities.

The company expects the contract to deliver a positive financial impact as developed lands are sold and titles are transferred to buyers.

Sumou Holding is identified as a related party in the transaction. This partnership aligns with the broader strategy to accelerate residential land availability in Jeddah through specialized marketing and off-plan sales frameworks.

Last week, the company opened the nominations for its board of directors regarding the new four-year term, scheduled to commence on 4 October 2026 and conclude on 3 October 2030.