Sumou Real Estate Company announces signing of Infrastructure development agreement for a land in Riyadh city for area more than 3 million sqm with Adeer Asar Real Estate Company

Sumou Real Estate Company announces signing of Infrastructure development agreement for a land in Riyadh city for area more than 3 million sqm with Adeer Asar Real Estate Company

|Element List||Explanation|

|Introduction||Sumou Real Estate Company announces signing of Infrastructure development agreement for a land in Riyadh City with Adeer Asar Real Estate Company for area more than 3 million sqm at 2-10-2022 corresponding to 6-3-1444|

|Date of Announcement of the Award||2022-10-02 Corresponding to 1444-03-06|

|Contract Subject Matter||signing of Infrastructure development agreement for a land in Riyadh city for area more than 3 million sqm with Adeer Asar Real Estate Company|

|Date of Signing the Contract||2022-10-02 Corresponding to 1444-03-06|

|Contract Value||Sumou Real Estate company will receive development fees of 8% from total project costs|

|Contract Details||signing of Infrastructure development agreement for a land in Riyadh City with Adeer Asar Real Estate Company for area more than 3 million sqm at 2-10-2022 corresponding to 6-3-1444|

|Contract Duration||30 months from date of signing of the agreement|

|Financial Impact and the Relevant Period||The project is expected to have a positive impact from date of signing the agreement|

|Related Parties||Adeer Asar Real Estate Company (a related party)|

|Additional Information||N/A|