Element List	Explanation
Introduction	Sumou Real Estate Company announces signing a contract to develop, design, and construct of a residential and commercial tower for Areeb Sumou Makkah Real Estate Fund on 29 January 2026G (corresponding to 10 Sha’ban 1447H) to be built on the land plot located in Jabal Omar district in Makkah, with an area of (3,066) m².
Date of Announcement of the Award	2026-01-29 Corresponding to 1447-08-10
Contract Subject Matter	Sumou Real Estate Company will develop, design and construct a mixed-use residential and commercial tower for Areeb Sumou Makkah Real Estate Fund. to be constructed on the land plot located in Jabal Omar district in Makkah, with an area of (3,066) m². The estimated project cost amounts to (423,355,000) Saudi Riyals, and the Company will also receive development management fees of 10% of the construction cost.
The Entity with Which the Contract was Signed	Areeb Advanced real estate company which represents Areeb Sumou Makkah Real Estate fund
Date of Signing the Contract	2026-01-29 Corresponding to 1447-08-10
Contract Value	The estimated development, design and construction amounts to (423,355,000) Saudi Riyals, excluding VAT, and the Company will also receive development management fees of 10% of the construction cost, excluding VAT.
Contract Details	Sumou Real Estate Company will develop, design and construct a mixed-use residential and commercial tower for Areeb Sumou Makkah Real Estate Fund, which will be constructed on the land located in Jabal Omar district, Makkah, with an area of (3,066) m². The estimated project cost amounts to (423,355,000) Saudi Riyals, excluding VAT, and the Company will also receive development management fees of 10% of the construction cost, excluding VAT.
Contract Duration	The project duration is 39 months, commencing from the date the Company is notified to start the development works.
Financial Impact and the Relevant Period	The project is expected to have a positive impact on the Company’s results starting the commencement of work on the project.
Related Parties	N/A
Additional Information	N/A