Arab News, Monday, Aug 22, 2022 | Muharram 22, 1444
Saudi developer Sumou signs $144m contract to develop residential units
Saudi Arabia: Sumou Real Estate Co.
has signed an agreement with National Housing Co. to build residential units for
SR540 million ($144 million).
The company said in a bourse filing that it will
develop up to 507 villas for Al-Samiya, a residential project located in
Al-Madinah.
Upon receiving the land from the National Housing
Co., Sumou will begin construction of the project.
The company said the project will contribute to
its performance at the start of sale and implementation; further details will be
revealed in the coming months.