Sumou Real Estate Company announces no financial effect on the company as a result of the amended White Land Tax Regulations implementation

Sumou Real Estate Company announces that it does not own any lands subject to the amended White Land Tax Law.

Accordingly, there is no financial impact on the Company, and it will not bear any taxes that would affect its financial position as a result of the implementation of the amended White Land Tax Law.

The Company affirms that the nature of its business model as a real estate development service provider opens new horizons for growth through integration with landowners, building partnerships with them, and transforming the burden of the White Land Tax into investment opportunities that contribute to achieving the government’s urban development objectives and stimulating real estate supply.