| Element List | Explanation |
|---|---|
| Introduction | Adeer Real Estate Company announces the signing of an agreement with Sumou Holding Company to market and sell the developed land plots within the “Jeddah Oasis” masterplan, located in Al Kawthar District, Jeddah, with a total area of 707,254 square meters. The project will be developed and marketed through the off-plan sales model. |
| Date of Announcement of the Award | 2026-07-09 Corresponding to 1448-01-24 |
| Contract Subject Matter | An agreement between Adeer Real Estate Company and Sumou Holding Company for the marketing and sale of the developed land plots within the “Jeddah Oasis” masterplan, located in Al Kawthar District, Jeddah, with a total area of 707,254 square meters. The project will be developed and marketed through the off-plan sales model. |
| The Entity with Which the Contract was Signed | Sumou Holding Company |
| Date of Signing the Contract | 2026-07-09 Corresponding to 1448-01-24 |
| Contract Value | Adeer Real Estate Company is entitled to a 2.5% brokerage commission on the value of the sold land plots. It will also receive 2.5% of the value of the sold land plots to cover marketing costs, including the establishment and fit-out of the sales center. |
| Contract Details | An agreement has been signed between Adeer Real Estate Company and Sumou Holding Company for the marketing and sale of the developed land plots within the “Jeddah Oasis” masterplan, located in Al Kawthar District, Jeddah, with a total area of 707,254 square meters. The project will be developed and marketed through the off-plan sales model. |
| Contract Duration | 12 calendar months commencing from the date of signing the agreement. |
| Financial Impact and the Relevant Period | This contract is expected to have a positive financial impact upon the sale and transfer of the land to the buyers and the collection of the Company’s fees. |
| Related Parties | Sumou Holding Company |
Adeer Real Estate Co. Announces Contract Sign Off with Sumou Holding Company
AI Summary
- Adeer Real Estate Company signed an agreement with Sumou Holding Company to market and sell land plots within the 707,254 square meter "Jeddah Oasis" masterplan in Jeddah.
- Adeer is entitled to a 2.5% brokerage commission and a 2.5% marketing fee on the total value of the land plots sold during the 12-month contract period.
- The project will be developed and marketed using an off-plan sales model, with a positive financial impact expected upon the completion of sales and land transfers.
