Riyadh - Mubasher: Sumou Real Estate Company announced the formation of its audit committee for a new term beginning 16 August 2026.

The appointments, approved by the board of directors on 13 August 2026, will remain effective until the current board session concludes on 23 December 2028.

The committee includes Ziyad Bassam Al-Bassam, who brings over 20 years of experience in executive management and real estate development, and Saeed Salem Al Nahdi, who possesses more than 30 years of professional experience across the Gulf region.

Al Nahdi has served in various leadership roles since earning his degree in 1993.

The board also appointed Abdulrahman Ayed Al Qahtani, who has over 12 years of experience in real estate investment and corporate governance, and Tariq Fathi Samara.

Samara, who joined Sumou Holding in 2017, has more than 20 years of experience in financial management, risk assessment, and auditing.

The formation of the committee is intended to strengthen the company’s institutional oversight and strategic financial planning throughout the designated term.

In the first half (H1) of 2026, the net profits of Sumou Real Estate climbed by 12.87% year-on-year (YoY) to SAR 67.10 million from SAR 59.44 million.