| Element List | Explanation |
|---|---|
| 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 |
Adeer Real Estate Co. Announces Contract Sign Off with Areeb Al-Mutatawirah Real Estate Company
AI Summary
- Adeer Real Estate Company signed a contract on June 11, 2026, with Areeb Al-Mutatawirah Real Estate Company to provide exclusive marketing and sales services for a mixed-use tower in Makkah.
- The project involves a 47-floor tower comprising 471 units located in the Jabal Omar area, which will be developed and executed under off-plan sales regulations.
- The contract value is estimated at approximately 18% of Adeer Real Estate Company's latest audited annual revenues, with a duration of 36 months starting from the commencement of marketing activities.
