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Element List	Explanation
Introduction	Sumou Real Estate Company announces the signing of a long-term lease, development, and operation contract on 4-5-2026, 17-11-1447H, with Saudi Airlines Real Estate Development Company (SARED) for the lease of a plot of land with an area of 78,374 m² located in Jeddah for a period of 35 years, with the aim of investing in the land and establishing an integrated mixed-use project in the southwestern corner of the master plan.
Date of Announcement of the Award	2026-05-04 Corresponding to 1447-11-17
Contract Subject Matter	Sumou Real Estate Company signed a long-term lease, development, and operation contract on 4-5-2026, 17-11-1447H, with Saudi Airlines Real Estate Development Company (SARED) for the lease of a plot of land with an area of 78,374 m² located in Jeddah for a period of 35 years, with the aim of investing in the land and establishing an integrated mixed-use project in the southwestern corner of the master plan.
The Entity with Which the Contract was Signed	Saudi Airlines Real Estate Development Company (SARED)
Date of Signing the Contract	2026-05-04 Corresponding to 1447-11-17
Contract Value	The annual rental value is SAR 11,756,100 (excluding VAT). The annual rent increases every five contractual years by an average rate of 21%. The annual rent becomes due upon the issuance of building permits or after eighteen months from the signing of the contract, whichever comes first.
Contract Details	Sumou Real Estate Company signed a long-term lease, development, and operation contract on 4-5-2026, 17-11-1447H, with Saudi Airlines Real Estate Development Company (SARED) for the lease of a plot of land with an area of 78,374 m² located in Jeddah for a period of 35 years, with the aim of investing in the land and establishing an integrated mixed-use project in the southwestern corner of the master plan. The annual rental value is SAR 11,756,100 (excluding VAT). The annual rent increases every five contractual years by an average rate of 21%, and the annual rent becomes due upon the issuance of building permits or after eighteen months from the signing of the contract, whichever comes first.
Contract Duration	35 Gregorian years, starting from the date of issuance of the building permits or after eighteen months from the signing of the agreement, whichever comes first.
Financial Impact and the Relevant Period	The financial impact of this contract is expected to begin from the date of receipt of the land.
Related Parties	N/A
Additional Information	N/A

Sumou Real Estate Company announces the signing of a long-term lease, development, and operation contract with Saudi Airlines Real Estate Development Company (SARED) for the lease of a plot of land and establishing an integrated mixed-use project in Jeddah