Adeer inks deal with Baitek Real Estate to market Jeddah land project

The signing of the agreement

Adeer Real Estate Co. signed an agreement with Baitek Real Estate Co. to market and sell 707,253 square meters of land plots owned by the latter in the Jeddah Oasis project.

 

 

The 44-day deal — valid as of today, Aug. 18 — is set to contribute an estimated 7% of Adeer’s revenues as per its latest income statement, according to a Tadawul filing.

 

This contract is bound to have a positive financial impact as soon as these lands are sold out, their deeds are transferred to the respective buyers, and the brokerage fees are booked by the company.

 

No related parties are included in the deal, it added.

 

According to data available on Argaam, Adeer’s revenues stood at SAR 100.75 million as of June 30, 2025.

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