Sumou Real Estate signs investments swap agreement

31/12/2020 Argaam

Sumou Real Estate headquarters

Sumou Real Estate Co. and Sumou Holding Co. signed investments swap agreement on Wednesday, Dec. 30, 2020.

 

According to the agreement, Sumou Real Estate increased its additional contributions in Al-Dhahiya El-Ghrbiya Co. in Makkah by transferring part of Sumou Holding’s investment for a total of SAR 78.7 million, the firm said in a statement to Tadawul.

 

In return, Sumou Real Estate transferred part of its investment in Makkah Entrance Project to Sumou Holding for the same amount.

 

The company is a related party in the deal, according to a burse statement.

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