| Introduction | Sumou Real Estate Company announces the signing of superstructure Development Management Agreement for Al Dhahiya Residence Project in Mecca for the construction of 149 villas, dated 29-04-2026, corresponding to 12-11-1447H, with Ghuroob Al Dhahiya Real Estate Development and Investment Company |
| Date of Announcement of the Award | 2026-04-29 Corresponding to 1447-11-12 |
| Contract Subject Matter | Sumou Real Estate Company will manage the superstructure development of Al Dhahiya Residence Project in Mecca for the construction of 149 villas, dated 29-04-2026, corresponding to 12-11-1447H, with Ghuroob Al Dhahiya Real Estate Development and Investment Company |
| The Entity with Which the Contract was Signed | Ghuroob Al Dhahiya Real Estate Development and Investment Company |
| Date of Signing the Contract | 2026-04-29 Corresponding to 1447-11-12 |
| Contract Value | Sumou Real Estate Company will receive management fees 10% from development cost |
| Contract Details | Sumou Real Estate Company will manage the superstructure development of Al Dhahiya Residence Project in Mecca for the construction of 149 villas, dated 29-04-2026, corresponding to 12-11-1447H, with Ghuroob Al Dhahiya Real Estate Development and Investment Company. The company will receive management fees 10% from development cost. |
| Contract Duration | “A period of thirty-six (36) Gregorian months commencing from the date the off-plan sale license is issued.” |
| Financial Impact and the Relevant Period | The project is expected to have a positive impact on the company's results from the start of work on the project. |
| Related Parties | Ghuroob Al Dhahiya Real Estate Development and Investment Company |
| Additional Information | N/A |
