Sumou Real Estate signs sales, marketing pact for Al–Aselah project

02/10/2022 Argaam
Logo ofSumou Real Estate Co.

Logo of Sumou Real Estate Co.

Sumou Real Estate Co. signed, on Sept. 29, a selling and marketing agreement with Adeer Real Estate Co., for Al–Aselah (Dahiyat Al Fursan) project at area no. 1/B of Dahiyat Al Fursan 1 and 2, Riyadh, on the plots allocated to Sumou Real Estate from the National Housing Co. (NHC), covering an area of 82,482.66 square meters (sq m).

 

In a bourse statement, the company stated that the agreement is effective from the signing date until Adeer sells the units.

 

Adeer will receive a 2.5% commission from the unit sale, including the marketing and selling expenses.

 

The project is expected to positively impact the company's results after obtaining the off-sale license and starting the sale and implementation.

 

The deal has a related party, which is Adeer Real Estate.

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