Sumou Real Estate Company announces the signing of a Project Development Management Agreement with Arch 3 Real Estate Development Company for the benefit of Arch Real Estate Development Fund 3 , for a project on a land located in Jeddah with an area of 6,394 square meters to develop a mixed-use Building with a total built-up area of 57,000 square meters.

Sumou Real Estate Company signed a Project Development Management Agreement with Arch 3 Real Estate Development Company on July 1, 2026, for a mixed-use project in Jeddah.
The project involves the development of a building with a total built-up area of approximately 57,000 square meters, covering all phases from design and permits to marketing and sales.
Sumou will receive a development management fee of 10% of the construction contract value, a 3% marketing fee of the total sales value, and a 2.5% real estate brokerage commission.
The contract duration is 36 months starting from the issuance of the Off-Plan Sales License, with a positive financial impact expected upon the commencement of work.

Element List	Explanation
Introduction	Sumou Real Estate Company announces the signing of a Project Development Management Agreement with Arch 3 Real Estate Development Company for the benefit of Arch Real Estate Development Fund 3 on July 1, 2026 (corresponding to 16 Muharram 1448 AH), for a project on a land plot located in Jeddah with an area of 6,394 square meters. The project is planned to develop a mixed-use Building with a total built-up area of approximately 57,000 square meters.
Date of Announcement of the Award	2026-07-01 Corresponding to 1448-01-16
Contract Subject Matter	Sumou Real Estate Company has signed a Project Development Management Agreement with Arch 3 Real Estate Development Company for the benefit of Arch Real Estate Development Fund 3 on July 1, 2026 (corresponding to 16 Muharram 1448 AH), for a project on a land located in Jeddah with an area of 6,394 square meters. The project involves the development of a mixed-use Building with a total built-up area of approximately 57,000 square meters.
The Entity with Which the Contract was Signed	Arch 3 Real Estate Development Company for the benefit of Arch Real Estate Development Fund 3
Date of Signing the Contract	2026-07-01 Corresponding to 1448-01-16
Contract Value	Sumou Real Estate Company receives a development managment fee of 10% of the construction contract value, In addition, the Company will receive a marketing fee 3% of the project's total sales value, as well as a real estate brokerage commission of 2.5% of the project's total sales value
Contract Details	Sumou Real Estate Company announces the signing of a Project Development Management Agreement with Arch 3 Real Estate Development Company for the benefit of Arch Real Estate Development Fund 3 on July 1, 2026 (corresponding to 16 Muharram 1448 AH), for a project on a land located in Jeddah with an area of 6,394 square meters. The project involves the development of a mixed-use building with a total built-up area of approximately 57,000 square meters. The scope of work includes managing all phases of the project development, commencing with studies, design, and obtaining the required permits and approvals and concluding with the marketing and sale of the real estate units in the project. Under the agreement, Sumou Real Estate Company will be entitled to a development management fee 10% of the construction contract value, In addition, the Company will receive a marketing fee 3% of the project's total sales value, as well as a real estate brokerage commission of 2.5% of the project's total sales value
Contract Duration	Thirty-six (36) calendar months commencing from the date of issuance of the Off-Plan Sales License.
Financial Impact and the Relevant Period	The project is expected to have a positive impact on the company's results starting from the commencement of work on the project.
Related Parties	None
Additional Information	None