Sumou Real Estate Co. · TADAWUL:4323
Sumou Real Estate — Investor Presentation (March 2024)
144 slides from Sumou Real Estate's investor presentation, Mar 30, 2024
Slide 1: Annual Report 2023
ANNUAL REPORT 2023 17] )] Perel sf Cee
Slide 2: Dear Shareholders
Dear Shareholders, The Chairman and members of the Board of Directors of Sumou Real Estate Company are pleased to present the company’s annual financial report ending 12/31/2023 , prepared in accordance with the governance list of the Capital Market Authority and the corporate system and policy of t
Slide 3: Content
Content # Item Page # Item Page # Item Page 5 Company Financial Results 40 1 Chairman of the Board of Directors’ Speech 5 7 Deals and Contracts with related parties 70 5-1 Comparison of the company operation results 41 2 CEO’s Speech 7 8 Competition business 77 Comparison of assets and liabilities o
Slide 4: Crown Prince and Custodian of the Two Holy Mosques
Crown Prince , his royal highness Custodian of the Two Holy Mosques Mohammed Bin Salman Bin Abdel Aziz King Salman Bin Abdulaziz 4
Slide 5: 1- Chairman Message
1- Chairman Message 5
Slide 6: Chairman Message
Chairman Message During a year full of achievements, and in line with His Highness' rich history of success in the real estate development sector, and its material excellence in operations and projects, our continuous contributions have resulted in creating more promising opportunities, achieving th
Slide 7: 2- CEO Message
2- CEO Message 7
Slide 8: CEO Message
CEO Message With the beginning of a new year, and in light of the rising indicators of prosperity witnessed by the Kingdom, led by the Custodian of the Two Holy Mosques and his Crown Prince, may Allah protect them, Sumou continues its long journey of achievements and excellence in the national real
Slide 9: 3- About the company
3- About the company 9
Slide 10: 3-1 Company Profile
3- Company Profile 3-1 Company Profile Sumou Real Estate Company was established on 03/06/1428H (corresponding to 18/06/2007), then Changed from a limited liability company to a closed joint stock company on 04/02/1431H (corresponding to 19/01/2010), then turned into a public joint stock company. It
Slide 11: 3-2 Company Activities
3-2 Company Activities The purposes for which the company was established, according to what is stated in its articles of association, are: 1) Real estate activities 2) construction. The company carries out these activities after obtaining the necessary licenses from the concerned competent authorit
Slide 12: 3-3 Sumou main business model
3-3 Sumou main business model The company conducts its work and provides its services through two business models, as follows: Development Management Sumou Real Estate provides comprehensive development management services to its clients. Our offerings encompass the full spectrum of real estate deve
Slide 13: 3-4 Vision, Mission & Values
3-4 VISION, MISSION & VALUES 13
Slide 14: 3-5 Sumou real estate development action plan
3-5 Sumou real estate development action plan Management, Project operation, development and studies maintenance solutions Planning Termination and and delivery engineering Development Implementation Financial Project planning management Marketing Implementation strategy and follow up 14
Slide 15: 3-6 Strength Points and Competitive Advantages
3-6 Strength Points and Competitive Advantages 1. A history of achievements and profits: During the past 17 years, the company has been developing and managing development projects more than 34 with a total area of (60) million square meters. 2. Efficiency of financial and business model: The compa
Slide 16: Strength Points and Competitive Advantages (continued)
9. Covering all aspects of real estate development activity: by making the best use of the depth of the company's management experience (its leaders, consultants, and work team) at selecting profitable projects, selecting new sites for land, and taking advantage of the variables of real estate marke
Slide 17: 4- Projects Summary
4- Projects Summary 17
Slide 18: 4-1 Completed Projects
4-1 Completed Projects 18
Slide 19: Completed Projects
Completed Projects Location Eastern Province, Dammam Location Eastern Province, Dammam Location Eastern Province, Dammam Area 1,518,093 m2 Area 455,250 m2 Area 190,000 m2 Industrial, Commercial, Commercial, Investment, Commercial, Investment, Usage Usage Usage Warehouses and Staff Residential Reside
Slide 20: Completed Projects
Completed Projects Location Central Province, Riyadh Location Eastern Province, Khobar Location Eastern Province, Dammam Area 2,989,642 m2 Area 92,493 m2 Area 333,590 m2 Commercial, Investment, Usage Residential Commercial and Business Usage Usage Residential Center Studies, Design, Marketing Studie
Slide 21: Completed Projects
Completed Projects Location Eastern Province, Dammam Location Western Province, Makkah Location Central Province, Riyadh Area 300,000 m2 Area 648,060 m2 Area 3,000,000 m2 Commercial and Business Usage Residential, Commercial Usage Residential, Commercial Usage Center Studies, Design, Dev. Studies, D
Slide 22: Completed Projects
Completed Projects Location Western Province, Makkah Location Western Province, Makkah Location Northern Province, Arar Area 973,198 m2 Area 946,979 m2 Area 588,134 m2 Usage Residential, Commercial Usage Residential, Commercial Usage Residential, Commercial Studies, Design, Dev. Studies, Design, Dev
Slide 23: Completed Projects
Completed Projects Location Eastern Province, Khobar Location Western Province, Jeddah Area 90,014 m2 Area 33,399 m2 Usage Residential Usage Residential, Commercial Studies, Design, Dev. Supervision and Technical Dev. Tasks Dev. Tasks Management services for Development Dev. Type Superstructure Dev.
Slide 24: 4-2 Current Projects
4-2 Current Projects 24
Slide 25: Current Projects
Current Projects Location Western Province, Makkah Location Western Province, Makkah Location Eastern Province, Khobar Area 1,609,575 m2 Area 1,220,392 m2 Area 2,180,220 m2 Usage Mixed use Usage Residential, Commercial Usage Residential, Commercial Studies, Design, Dev. Studies, Design, Dev. Dev. Ta
Slide 26: Current Projects
Current Projects Location Western Province, Jeddah Location Eastern Province, Dhahran Location Eastern Province, Dammam Area 104,766 m2 Area 213,788 m2 Area 300,000 m2 Usage Residential Usage Residential, Commercial Usage Residential, Commercial Studies, Design, Dev. Dev. Tasks Dev. Management Studi
Slide 27: Current Projects
Current Projects Location Western Province, Makkah Location Central Province, Riyadh Location Western Province, Makkah Area 1,321,750 m2 Area 3,012,533 m2 Area 1,070,198 m2 Usage Residential, Commercial Usage Residential, Commercial Usage Residential, Commercial Studies, Design, Dev. Studies, Design
Slide 28: Current Projects
Current Projects Location Eastern Province, Dammam Location Western Province, Al-Madinah Location Central Province, Riyadh Area 415,968 m2 Area 128,741 m2 Area 82,483 m2 Usage Residential, Commercial Usage Residential Usage Residential Dev. Tasks Dev. Management Studies, Design, Dev. Studies, Design
Slide 29: Current Projects
Current Projects Location Western Province, Jeddah Location Eastern Province, Dammam Location Western Province, Makkah Area 36,600,000 m2 Area 72,924 m2 Area 88,370 m2 Usage Mixed use Usage Residential Usage Residential Studies, Design, Dev. Studies, Design, Dev. Studies, Design, Dev. Dev. Tasks Man
Slide 30: Current Projects
Current Projects مجمع السكني Location Eastern Province, Dammam Location Eastern Province, Dammam Location Eastern Province, Khobar Area 59,584 m2 Area 268,901 m2 Area 1,000,000 m2 Usage Residential Usage Residential, Commercial Usage Residential, Commercial Dev. Tasks Dev. Management Dev. Tasks
Slide 31: Current Projects
Current Projects Location Central Province, Riyadh Location Western Province, Makkah Area 42,973 m2 Area 300,000 m2 Commercial, Investment, Usage Residential, Commercial Usage Sprots Studies, Design, Dev. Dev. Tasks Dev. Management Dev. Tasks Management, Execution, Marketing and Leasing Dev. Type In
Slide 32: 4-3 Properties owned by Sumou Real Estate Company
4-3 Properties owned by Sumou Real Estate Company • The company owns (18) plots of land as shown below, The table below shows the details of these lands: # lands location Uses Area 1 48,177 Business Oasis (17) title Dammam Mix uses deed 2 Half moon land Khobar Residential 8,850 • Note: Part of lands
Slide 33: 4.4 Associate and Subsidiaries companies
4.4 Associate and Subsidiaries companies 4.4.1 Dhahiat Gharbia Company (Associate company) Dhahiat Gharbia Company is a limited liability company was established under CR No. (4030202037) dated 04/07/1431H (corresponding to 15/06/2010) with a capital of (100,000) one hundred thousand Saudi Riyal hav
Slide 34: Results of Dhahiat Gharbia Company
The following is an analysis of the results of Dhahiat Gharbia Company, and Sumou Real Estate's share as of December 31, 2023: 2022 2023 TOTAL ASSETS 1,186,298,675 1,092,246,784 TOTAL LIABILITIES 224,550 1,307,350 TOTAL SHAREHOLDERS’ EQUITY 1,186,074,125 1,090,939,434 LOSSES (3,389,918) (22,318,029)
Slide 35: 4.4.2 TANAL Real Estate Company (Associate)
4.4.2 TANAL Real Estate Company (Associate company) TANAL Real Estate Company is a limited liability company, was established under CR No. (1010580864) dated 22/09/1440H with a capital of (100,000 SR) one hundred thousand Saudi Riyal having its head office in Riyadh, K.S.A. Note that the main activi
Slide 36: Results of TANAL Real Estate Company
The following is an analysis of the results of TANAL Real Estate Company, and Sumou Real Estate's share as of December 31, 2023 : 2022 2023 TOTAL ASSETS 355,833,444 352,294,129 TOTAL LIABILITIES 22,382,877 10,315,327 TOTAL SHAREHOLDERS’ EQUITY 333,450,567 341,978,802 PROFIT 274,525,567 140,528,234 C
Slide 37: 4.4.3 ALMAHAFIL Trading And Contracting Company (Subsidiary)
4.4.3 ALMAHAFIL Trading And Contracting Company Ltd. (subsidiary company) ALMAHAFIL Trading And Contracting Company, is a limited liability company, was established under CR No. (4030127728) dated 15/04/1420H with a capital of (100,000) one hundred thousand Saudi Riyal having its head office in Jedd
Slide 38: Results of ALMAHAFIL Trading and Contracting Company
The following is an analysis of the results of ALMAHAFIL Trading and Contracting Company Ltd., and Sumou Real Estate's share as of 31 December 2023 : 2022 2023 TOTAL ASSETS 30,694,821 47,486,058 TOTAL LIABILITIES 21,123,658 23,349,828 TOTAL SHAREHOLDERS’ EQUITY 9,571,163 24,136,230 LOSSES (1,364,275
Slide 39: 4.4.4 Anara Development Company (Subsidiary)
4.4.4 Anara Development Company (Subsidiary) Anara Development Company is a limited liability company, established under Commercial Registration No. 4030534502 issued on 21/05/1445 AH with a capital of 100,000 one hundred thousand Saudi riyals, located in the city of Jeddah, Kingdom of Saudi Arabia,
Slide 40: 5- Company Financial Results
5- Company Financial Results 40
Slide 41: 5.1 Comparison of Business Results of the Company
5- Summary of the Financial Results of Sumou Real Estate Company for the Period from 2019 to 2023 5.1 Comparison of Business Results of the Company December 2021 December 2022 December 2023 Statement of Income and Comprehensive Income (SAR) 31 December 2019 31 December 2020 Consolidated * Consolidat
Slide 42: Comparison of Business Results
Comparison of Business Results of Sumou Real Estate Company 300,000,000 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 0 2019 2020 2021 2022 2023 Revenues Total Annual Profit Net Income for the Year Total comprehensive income for the year 42
Slide 43: 5-2 Comparison of Assets and Liabilities
5-2 Comparison of Assets and Liabilities of the Company 31 December 2021 31 December 2022 31 December 2023 Financial Position (SAR) 31 December 2019 31 December 2020 Consolidated * Consolidated * Consolidated * Total Current Assets 36,788,482 37,130,502 127,750,375 259,490,532 338,720,259 Total Non-
Slide 44: Comparison of Assets and Liabilities
Comparison of Assets and Liabilities of Sumou Real Estate Company 900,000,000 800,000,000 700,000,000 600,000,000 500,000,000 400,000,000 300,000,000 200,000,000 100,000,000 0 2019 2020 2021 2022 2023 Total Assets Total Liabilities Equity 44
Slide 45: Total assets
Total assets Total assets as of 31/12/2023 amounted to 850 million Saudi riyals, or 227% of the capital of sumou Real Estate Company Comparison of Total Assets with Capital 900,000,000 850,113,418 800,000,000 700,000,000 600,000,000 500,000,000 400,000,000 375,000,000 300,000,000 200,000,000 100,000
Slide 46: Current Ratio
Current Ratio The current ratio was 1.24 as of 31/12/2023 compared to 1.77 as of 31/12/2022 Current Ratio 1.77 1.24 2.00 1.50 1.00 0.50 - 31-12-2023 31-12-2022 46
Slide 47: Comparison of Statutory Reserve with the Capital
Comparison of Statutory Reserve with the Capital The statutory reserve as of 31/12/2023 amounted to 54,539,257 Saudi riyals, representing 15% of the capital of sumou Real Estate Company Comparison of Statutory Reserve with Capital 375,000,000 400,000,000 300,000,000 54,539,257 200,000,000 100,000,00
Slide 48: Dividends Distributed for the Last Three Years
Dividends Distributed for the Last Three Years The total dividends for the last three years amounted to 131.25 million Saudi riyals, equivalent 35% of the capital of sumou Real Estate Company Dividends for the Last Three Years 80,000,000 75,000,000 70,000,000 Financial Year Distributed Profits 60,00
Slide 49: 5-3 Comparison of the Company's Cash Flows
5-3 Comparison of the Company's Cash Flows 31 December 2021 31 December 2022 31 December 2023 Cash Flows (SAR) 31 December 2019 31 December 2020 Consolidated * Consolidated * Consolidated * Cash and Bank Balances at the Beginning of the Year 8,194,213 6,773,820 7,635,012 71,854,674 83,797,263 Net Ca
Slide 50: 5-4 Impact of the Main Activities on Business Results
5-4 The Impact of the Main Activities on the Volume of the Company's Business and its Contribution to the Results of the Company's Business During the last five years, the Company's revenues are mainly represented in the fees due from the Development Management, which are calculated as a percentage
Slide 51: Analysis of 5 Year Revenues
Analysis of 5 Year Revenues of Sumou Real Estate Company 180,000,000 160,000,000 140,000,000 120,000,000 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 0 2019 2020 2021 2022 2023 Real Estate Project Management Fees Revenues Real Estate Project Revenues Contracting Revenues Land Sale Revenue
Slide 52: 5-5 Substantial Differences in Operating Results
5-5 Substantial Differences in Operating Results from the Previous Year for the Company Percentage of Item 2023 2022 Net Change Causes of Deviation Change The decrease in revenues as a result of the Company achieving higher completion rates in its existing projects in 2022 compared to the current Re
Slide 53: 5-6 Geographical Analysis of Total Revenues
5-6 Geographical Analysis of the Total Revenues of the Company and its Subsidiaries for 2022 and 2023 Year Central Region Western Region Eastern Region Total 2022 1,089,174 177,287,111 104,043,663 282,419,948 2023 4,870,433 249,986,628 18,961,409 273,818,470 Geographical Analysis of Revenues 300,000
Slide 54: 5-7 Key Financial Indicators
5-7 Key Financial Indicators: 31 December 31 December 31 December 31 December 31 December Financial Indicators 2019 2020 2021 2022 2023 Revenue Growth Rate (30,17%) (46%) 6% 174% -3% Growth Rate in Net Income of Shareholders of the Company 3% 2% 14% 8% 18% Gross Profit Margin 54% 90% 60% 27% 42% Inc
Slide 55: 5-8 Loans and Bank Facilities
5-8 Loans and Bank Facilities 5-8-1 Bank Loans This item represents an expired loan granted by Bank Al-Jazira with a value of 200 million Saud riyals in 2014. The financial position of this loan was as follows: - Financial Year Balance as of January 1 Received during the Financial Year Payments duri
Slide 56: 5-8-2 Facilities from Banque Saudi Fransi
5-8-2 Facilities from Banque Saudi Fransi: • During the year 2020, a letter of guarantee was issued in favor of the National Housing Company with a value of 30.9 million Saudi riyals and was recovered on 15/2/2022. • On October 10, 2021, the limit of credit facilities with Banque Saudi Fransi compli
Slide 57: 5-8-3 Facilities from Riyad Bank
5-8-3 Facilities from Riyad Bank: On 01/06/2022, a credit facility (Sharia-compliant) agreement with a value of 50,000,000 Saudi riyals was signed with Riyad Bank, to cover the issuance of letters of guarantee of all kinds for housing projects, in exchange for a bond for a full amount in favor of th
Slide 58: 5-9 Zakat and Tax Position
5-9 Zakat and Tax Position of sumou Real Estate Company and its Subsidiaries 5-9-1 Zakat Status of sumou Real Estate Company Due for the Year Payment in Progress Due for the Year Description Paid for the Year 2022 Brief Description Causes 2023 for th Year 2023 2022 The increase in the Zakat due for
Slide 59: 5-9-2 Tax Status of Sumou Real Estate Company
5-9-2 Tax Status of sumou Real Estate Company (Statutory Payments) Tax Due through Tax Paid to the Authority through Tax Due Credit Balance of Year Refunded to date Causes Tax Returns Acknowledgments for Refund Refunds All VAT receivables due to the Company for the year 2022 amounting to SAR 1,125,8
Slide 60: 5-9-3 Zakat and Tax Status of Subsidiaries
5-9-3 Zakat and Tax Status of Subsidiaries (Al-Mahafel Trading and Contracting Company Ltd. and Anara Development Company) Description Due during 2023 Paid during 2023 Due for 2022 Paid for 2022 Zakat Zero Zero 37,566 37,566 Al-Mahafel Trading and Contracting Company Ltd. submitted the Zakat return
Slide 61: 5-10 Employees Provisions (End of Service Benefit)
5-10 Employees Provisions (End of Service Benefit) The actuarial valuation was performed by Opal Actuarial Services and performed using the projected credit module The key assumptions used for actuarial valuation purposes were as follows: Movement of Employee Benefits Liabilities 31 December 2023 31
Slide 62: 5-11 Application of International Financial Reporting Standards
5-11 Application of International Financial Reporting Standards The financial statements for the year ended 31 December 2023 are the financial statements of the Company prepared in accordance with the International Financial Reporting Standards adopted in the Kingdom of Saudi Arabia. It is worth men
Slide 63: 6- Risks
6- Risks 63
Slide 64: Risk management policy and supervision
A. Risk management policy and supervision The company pays attention to potential risks, and the company periodically reviews these risks and develops appropriate measures to overcome them. The following risks are the main ones and do not include all the risks that the company may face. Rather, it i
Slide 65: 6-1 Risks related to the company's activity and operations
6-1 Risks related to the company's activity and operations 1- Risks of developing and implementing the company's projects The real estate development projects implemented by the company are subject to potential risks represented by the possibility of delay in obtaining the necessary government appro
Slide 66: Risks related to related-party contracts and lawsuits
3- Risks associated with the contracts and transactions of related parties The company has dealings and contracts with the related parties which are made on strictly commercial grounds. These contracts and transactions are subject to the approval of the Board of Directors and the approval of the Ord
Slide 67: Risks related to operating systems and liquidity
6- Risks related to operating systems and information technology The company relies on information technology systems to manage its business. Therefore, the company's failure to maintain and develop information technology systems, or the existence of any malfunctions in its functions will negatively
Slide 68: 6-2 Risks related to the market and the sector
6-2 Risks related to the market and the sector 1- Risks related to the competitive environment The main activity of the company is the management and execution of real estate development, and this field is characterized by high competition. Consequently, in the event that current or potential compet
Slide 69: Difficulty to monetize real estate investments
4- Difficulty to monetize real estate investments Real estate investments are, by nature, long-term investments that are difficult to sell compared to other investments, especially in light of the slowing demand for land and real estate in the Kingdom. Therefore, the changing nature of market condit
Slide 70: 7- Deals and Contracts with related parties
7- Deals and Contracts with related parties 70
Slide 71: Related party contracts
The Company acknowledges that there are no valid contracts, transactions or arrangements for the Company's business in which the Chairman of the Board of Directors, a member of the Board of Directors, the Chief Executive Officer or the Director of the Financial Department have a material interest, e
Slide 72: Related party contracts
4. A framework agreement between Sumou Real Estate Company and Adeer Holding Company, in which there is an indirect interest of the Chairman of the Board of Directors, Mr. Ayed bin Farhan Al-Qahtani, in its capacity as one of his subsidiaries and the Deputy Chairman Mr. Saeed Salem Al-Nahdi, in his
Slide 73: Related party contracts
8. Administrative offices lease contract between Sumou Real Estate Company and Adeer Holding Company, in which there is an indirect interest of the Chairman of the Board of Directors, Mr. Ayed bin Farhan Al-Qahtani, in its capacity as one of his subsidiaries, and the Deputy Chairman, Mr. Saeed Salem
Slide 74: Related party contracts
11. An agreement between Sumou Real Estate Company and Sumou Holding Company in which the Chairman of the Board of Directors, Mr. Ayed bin Farhan Al-Qahtani and Member of the Board of Directors, Mr. Saeed Salem Al-Nahdi, has an indirect interest in it, as Mr. Ayed Bin Farhan Al-Qahtani is Chairman o
Slide 75: Agreement with Alinma Investment Company
14. An agreement between Sumou Real Estate Company and Alinma Investment Company, Manager of Alinma Ajyad Real Estate Fund, in which there is an indirect interest of the Chairman of the Board of Directors, Mr. Ayed Farhan Al-Qahtani, through the presence of his son Abdul Rahman bin Ayed Al-Qahtani a
Slide 76: Agreement with Alinma Investment Company
17. An agreement between Sumou Real Estate Company and Alinma Investment Company, the manager of the Dahiyat Sumou Fund, in which the Chairman of the Board of Directors, Mr. Ayed bin Farhan Al-Qahtani, and Mr. Saeed Salem Al-Nahdi, have an indirect interest as Mr. Ayed bin Farhan Al-Qahtani is the C
Slide 77: 8- Competition business
8- Competition business 77
Slide 78: Businesses competing with Chairman's businesses
List of businesses that compete with the businesses of Chairman of the Board of Directors/ Ayedh bin Farhan Al-Qahtani in his capacity as owner or manager. Company Name Activities Bissan Company for Commercial and Real Estate Buying and selling land and real estate, dividing it, off-plan sales activ
Slide 79: Businesses competing with Deputy Chairman's businesses
List of businesses that compete with the businesses of Deputy Chairman of the Board of Directors/ Saeed Salem AL Nahdi in his capacity as owner or manager. Company Name Activities Sumou Holding Company A holding company that invests in and owns stakes in real estate companies Adeer Holding Company A
Slide 80: Businesses competing with Board member's businesses
List of businesses that compete with the businesses of Board member of the Board of Directors/ Essam Ahmed Kalthoum in his capacity as owner or manager. Company Name Activities Bona Al Khaleej Contracting Company General construction of residential buildings Daman Arabia Company for Trade and Renova
Slide 81: 9- Board of Directors, committees and executive management
9- The company's Board of Directors, committees and executive management 81
Slide 82: Board Members
Board Members Saeed Salem AL Nahdi Ayedh Farhan Al Qahtani Deputy chairman Chairman Essam Ahmed Kalthoum Khalid Saleh AL Aqeel Faisal Abdullah Al Khaldi Board member Board member Board member 82
Slide 83: 9-1 Members of the Board of Directors
9- The company's Board of Directors, committees and executive management The company is managed by a Board of Directors consisting of (5) five members elected by the Ordinary General Assembly of shareholders for a period not exceeding (3) three years. The members of the Board of Directors were appoi
Slide 84: 9-1-2 Board members' positions, qualifications and experience
9-1-2 Board members names, their current and previous positions, qualifications and experience Name Ayedh Farhan Al Qahtani Nationality Saudi Position Chairman of the Board of Directors Education Bachelor’s degree in industrial management - King Fahad University of Petroleum and Minerals, Dhahran -
Slide 85: Saeed Salem Mohammed Al Nahdi
Name Saeed Salem Mohammed Al Nahdi Nationality Bahraini Position Deputy Chairman Education Bachelor’s degree in business administration - University of Bahrain, Manama - Kingdom of Bahrain- 1993. - CEO of Sumou Holding Company from 2015 until the date of this report. - Member of the Board of Directo
Slide 86: Saeed Salem Mohammed Al Nahdi
Name Saeed Salem Mohammed Al Nahdi Nationality Bahraini Position Deputy Chairman Education Bachelor’s degree in business administration - University of Bahrain, Manama - Kingdom of Bahrain- 1993. - Chairman of the Board of Directors of Khairat Ala’alaf Company, from 2019 until the date of this repor
Slide 87: Faisal Abdullah Al-Khaldi
Name Faisal Abdullah Al-Khaldi Nationality Saudi Position Member of the Board of Directors. Bachelor of Engineering in Applied Civil Engineering - King Fahad University of Petroleum and Minerals, Dhahran - Saudi Arabia- Education 1990. - Chairman of the Board of Directors of Ekmal Trading Company si
Slide 88: Khaled Saleh AL Aqeel
Name Khaled Saleh AL Aqeel Nationality Saudi Position Member of the Board of Directors. Education Bachelor’s degree in accounting - King Saud University, Riyadh - Kingdom of Saudi Arabia- 1987. - Chairman of the Board of Directors of the Saudi Equity Fund of the Gulf Securities Company from 2017 unt
Slide 89: Essam Ahmed Kalthoum
Name Essam Ahmed Kalthoum Nationality Saudi Position Member of the Board of Directors. Education Bachelor’s degree in civil engineering - King Fahad University of Petroleum and Minerals, Dhahran - Saudi Arabia- 1982. Member of the Board of Directors of Wadi Makkah Company from 2022 until the date of
Slide 90: 9-1-3 Companies in which board members serve
9-1-3 Names of companies inside and outside the Kingdom in which a member of the company's Board of Directors is a member of its current or previous Board of Directors or one of its managers 1- Ayedh Farhan Al-Qahtani - Chairman of the Board of Directors Names of companies in Legal entity (listed Na
Slide 91: Saeed Salem AL Nahdi - Other companies
2- Saeed Salem AL Nahdi - Deputy chairman of the Board of Directors Names of companies in Legal entity (listed Names of companies in which a which a member of the Legal entity (listed joint Inside the Kingdom / joint stock / unlisted member of the Board of Directors is a Board of Directors is a Insi
Slide 92: Saeed Salem AL Nahdi - Other companies
2- Saeed Salem AL Nahdi - Deputy chairman of the Board of Directors Names of companies in Legal entity (listed Names of companies in which a which a member of the Legal entity (listed joint Inside the Kingdom / joint stock / unlisted member of the Board of Directors is a Board of Directors is a Insi
Slide 93: Saeed Salem AL Nahdi - Other companies
2- Saeed Salem AL Nahdi - Deputy chairman of the Board of Directors Names of companies in Legal entity (listed Names of companies in which a which a member of the Legal entity (listed joint Inside the Kingdom / joint stock / unlisted member of the Board of Directors is a Board of Directors is a Insi
Slide 94: Faisal Abdullah Al-Khaldi - Other companies
3- Faisal Abdullah Al-Khaldi - Member of the Board of Directors Names of companies in which a member of the Board of Inside the Kingdom / Legal entity (listed joint stock / unlisted joint stock Directors is a member of its current Board of Directors or one of Outside the Kingdom company / limited li
Slide 95: Khaled Saleh Abdullah Al-Aqeel - Other companies
4- Khaled Saleh Abdullah Al-Aqeel - Member of the Board of Directors Names of companies in which a member of the Board of Inside the Kingdom / Legal entity (listed joint stock / unlisted joint stock Directors is a member of its current Board of Directors or one of Outside the Kingdom company / limit
Slide 96: Essam Ahmed Mohamed Kalthoum - Other companies
5- Essam Ahmed Mohamed Kalthoum - Member of the Board of Directors Names of companies in which a member of the Board of Inside the Kingdom / Legal entity (listed joint stock / unlisted joint stock Directors is a member of its current Board of Directors or one of Outside the Kingdom company / limited
Slide 97: 9-1-4 Board of Directors meetings and attendance
9-1-4 The number of Board of Directors meetings during the year 2023, the dates these were held, and the attendance record of each meeting First Meeting Second Meeting Third Meeting Fourth Meeting # Name Member Status Total 22-03-2023 23-08-2023 12-10-2023 21-12-2023 1 Ayedh Farhan Al-Qahtani None-E
Slide 98: 9-1-5 Change in ownership of board members and executives
9-1-5 Change in ownership and interests of board members, senior executives and their relatives The number of shares at % Owner-ship at the Net change in the Total shares at the end Total % Type of Debt # Member name Position the beginning of the year beginning of the year number of shares of the ye
Slide 99: Direct and indirect ownership of the Chairman
Explanation of the details of the direct and indirect ownership of Ayedh Al-Qahtani, Chairman of the Board of Directors, and his family on 31-12-2023 1. Details of the ownership of the Chairman of the Board of Directors – Mr. Ayed Farhan Al-Qahtani directly on 31/12/2023 as follows: Mr. Ayed Al-Qaht
Slide 100: Direct and indirect ownership of the Chairman
Explanation of the details of the direct and indirect ownership of Ayedh Al-Qahtani, Chairman of the Board of Directors, and his family on 31-12-2023 3. Details of the ownership of the wife of the Chairman of the Board of Directors – Ms. Bina Hassan Abdul Karim Al-Qahtani on 31/12/2023 as follows: T
Slide 101: 9-1-6 List of principal owners
9-1-6 List of principal owners at 31-12-2023 A statement of the names, number and percentage of ownership of shareholders who own 5% or more and its change during the fiscal year 2023, with the exception of members of the Board of Directors and senior executives The change in the number of shares fo
Slide 102: 9-1-7 Shareholders' associations
9-1-7 Shareholders' associations Assemblies held during the year 2023 and the attendance record of the members of the Board of Directors for the general assemblies of shareholders held during 2023 Extraordinary General Assembly # Member name Total on 02-05-2023 1 Ayedh Farhan Al-Qahtani 1 1 2 Saeed
Slide 103: 9-2 Board Committees
9-2 Board Committees The company’s policy is to adopt advanced standards in corporate governance, including separation of the responsibilities and tasks of the board of directors, executive management, and policies that It ensures the work of the company’s board of directors to achieve the interests
Slide 104: Audit Committee
1- Audit Committee Description of the terms of reference and duties of the Audit Committee The Audit Committee was established in accordance with Article (51) of the Corporate Governance Regulations issued by the Capital Market Authority in force and in accordance with Article No. 2 of the Audit Com
Slide 105: Internal audit
Internal audit 1. Studying and reviewing the company's internal and financial control and risk management systems. 2. Studying the internal audit reports and following up the implementation of corrective actions according to the notes contained therein. 3. Control and supervise the performance and a
Slide 106: Members of the Audit Committee
2- Names and descriptions of members of the audit committee # Name Position 1 Khaled Saleh Al-Aqeel Head of the Committee 2 Faisal Abdullah Al-Khaldi member 3 Saeed Salem Mohammed Al-Nahdi member 4 Ziad Bassam Al-Bassam member 106
Slide 107: Audit Committee member profile
3- Names of Audit Committee members, their current and previous positions, qualifications and experience Name Ziad Bassam Mohammed Al-Bassam Nationality Saudi Position Member of the Audit Committee Qualification - Holds a Bachelor's degree in Business Administration s - Holds training in financial m
Slide 108: Audit Committee meetings and attendance
The number of meetings of the Audit Committee during the year 2023 , the dates these were held, and the attendance record of each meeting First meeting Second meeting Third meeting Fourth meeting # Member name Total 21/03/2023 22/08/2023 03/10/2023 21/12/2023 1 Khaled Saleh Al-Aqeel ✓ ✓ ✓ ✓ 4 2 Fais
Slide 109: 9-2-2 Nominations and Rewards Committee
9-2-2 Nominations and Rewards Committee 1- A description of the terms of reference and duties of the Remuneration and Nomination Committee A - Competences related to nominations: Suggesting clear policies and criteria for membership in the Board of Directors and executive management. Recommend to th
Slide 110: Competences related to remuneration
B- Competences related to remuneration: Preparing a clear policy for the remuneration of members of the Board of Directors, the committees emanating from the Board, and the executive management, and submitting it to the Board of Directors for consideration in preparation for approval by the General
Slide 111: Members of the Nominations and Rewards Committee
2- Names of the Nominations and Rewards Committee members # Name Position 1 Faisal Abdullah Al-Khaldi Head of the Committee 2 Saeed Salem Mohammed Al-Nahdi member 3 Essam Ahmed Mohamed Kulthoum member The CVs of the committee members included in the CVs of the members of the Board of Directors. 3- T
Slide 112: 9-3 Remuneration
9-3 Remuneration 1- Remuneration policy The company has adopted the remuneration policy before the General Assembly of the Company. As the company takes into account this policy when determining and disbursing the remunerations received by each member of the Board of Directors or a member of the com
Slide 113: Controls for determining and disbursing bonuses
2 - Controls for determining and disbursing bonuses received by the Board of Directors and the executive management: 1. In the event that a member of any of the committees is a member of the Board of Directors, he receives a remuneration for his membership in the Board of Directors only, and he may
Slide 114: Remuneration controls (continued)
10. The amount of the annual bonus is estimated based on the date of enrollment and departure of the member, provided that the attendance of the specified minimum of two-thirds of the meetings held between the date of joining and leaving during the period is achieved. 11. It is not permissible to co
Slide 115: Executive management remuneration
3 - Executive management remuneration 1. The Nominations and Remuneration Committee reviews the job benefits of the executive management, incentive programs and plans on an ongoing basis. After obtaining the recommendations of the executive management, the committee reviews them and submits its fina
Slide 116: Board members' remuneration 2023
4- Disclosure of the board members’ remuneration for their membership in the company’s Board of Directors during 2023 Starting from January 01, 2023, until December 31, 2023. Fixed rewards Variable rewards Remunerations of the chairman, managing director, Allowance for what the members of the Board
Slide 117: Remunerations of committee members
5- Remunerations of audit committee members Fixed rewards Allowance for Member name Total (except for attendance fees) attending sessions Khaled Saleh Al-Aqeel ------ 12,000 12,000 Faisal Abdullah Al-Khaldi ------- 12,000 12,000 Saeed Salem Mohammed Al-Nahdi ------- 12,000 12,000 Ziad Bassam Al-Bass
Slide 118: 9-4 Executive management of the company
9-4 Executive management of the company 1- Names of the executive management of the company, job title and date of appointment # Name Nationality Job title Date of hiring Direct ownership Indirect ownership 1 Jarallah Muhammad Al Amra Saudi Chief Executive Officer 20/08/2008 - - 2 Asem Adel Abu Al-F
Slide 119: Overview of the executive management: CEO
2- An overview of the executive management, their current and previous jobs, and their qualifications and experience Name Jarallah Mohammed Al Amrah Nationality Saudi Position CEO Bachelor’s Degree in Urban Planning and Design - College of Architecture and Planning, King Saud University, Riyadh - Sa
Slide 120: Assem Adel Abo Alfaraj, COO
Name Assem Adel Abo Alfaraj Nationality Saudi Position COO Bachelor’s degree in Architecture and Building Sciences - College of Architecture and Planning, King Saud University, Riyadh - Education Kingdom of Saudi Arabia, in 2000 AD. - Chief Operating Officer - Sumou Real Estate Company since October
Slide 121: Mohsen Gamal El-Din El-Hefnawi, Director of Finance
Name Mohsen Gamal El-Din El-Hefnawi Nationality Egypt Position Director of the Financial Department - A training course on banking business at the National Bank of Egypt in 1987. - Bachelor of Commerce (Financial Accounting) Cairo University - Egypt in 1988. - A training course for wage systems and
Slide 122: Khaled Kamal Khattab
Name Khaled Kamal Khattab Nationality Jordanian Position Head of Business Development Department Bachelor of Engineering: Civil Engineering, Al-Balqa' Applied University –Jordan, 2008 Education Master of Engineering: Project Management, University Of Calgary Canada -Alberta, Canada, 2011 - Head of E
Slide 123: Ahmed Khan Alhashmi
Name Ahmed Khan Alhashmi Nationality Saudi Position Head of Engineering Department - Bachelor's degree in Architecture, 2006, King Abdulaziz University. - Master's in Engineering (Environment and Comfort in Architecture and Urbanism), 2008-2010, University of Bordeaux, Education France. - Ph.D. in M
Slide 124: Salaries and bonuses of senior executives 2023
3- The salaries and bonuses of senior executives for the year 2023 A breakdown of the remunerations paid to Five senior executives who received the highest remunerations, including the CEO and the CFO during the fiscal year 2023 Total Variable rewards Fixed rewards End of Grand executive service Gra
Slide 125: 10- General disclosures during the year 2023
10- General disclosures during the year 2023 125
Slide 126: General Disclosures during the year 2023
General Disclosures during the year 2023 # Announcement Date 1 Sumou Real Estate Co. announces its Annual Financial Results for the Period Ending on 2022-12-31 23-3-2023 2 Sumou Real Estate Co. announces the distribution of cash dividend for Second half of the fiscal year ending 31 December 2022 23-
Slide 127: General Disclosures during the year 2023
General Disclosures during the year 2023 # Announcement Date 13 Sumou Real Estate Co. announces the distribution of cash dividend for the First half of 2023. 24-8-2023 14 Reminder Announcement from Sumou Real Estate Company in reference to Inspection Period for the transition Document 31-8-2023 Sumo
Slide 128: 11- Annual review of internal control effectiveness
11- Results of the annual review of the effectiveness of internal control procedures 128
Slide 129: Results of the annual review of internal control
1- Results of the annual review of the effectiveness of internal control procedures: The company’s operations were reviewed during the fiscal year ending on 12/31/2023 by the company’s internal audit under the supervision of the Audit Committee emanating from the Board of Directors for the purpose o
Slide 130: 12- Dividend policy
12- Dividend policy 130
Slide 131: Dividend policy
The Company’s Articles of Association stipulate in Article (48), forty-eight, the policy for distributing profits, and the Board of Directors issued a policy for distributing profits as follows: 1. 10% of the net profits shall be set aside to form the company's statutory reserve. The Ordinary Genera
Slide 132: 13- Profits distributed during the fiscal year
13- Profits distributed during the fiscal year 132
Slide 133: Profits distributed during the fiscal year 2023
Profits distributed during the fiscal year 2023 The percentage of profits distributed during the fiscal year 2023 Annual profits for the fiscal year Interim profits for the first half 2022 of the fiscal year 2023 The ratio 10% 10% Announcement date 23/03/2023 24/08/2023 Due date 30/03/2023 25/09/202
Slide 134: 14- Corporate governance
14- Corporate governance 134
Slide 135: Independence of members and conflict of interest
1-Review the independence of members and cases of conflict of interest during the fiscal year 2023 In accordance with the tasks of the Remuneration and Nomination Committee, the committee has evaluated the independence of the independent members, who are: 1. Eng. Faisal Abdullah Al-Khaldi 2. Mr. Kha
Slide 136: Corporate governance rules
Sumou Real Estate Company has issued its corporate governance rules based on the governance system issued by the Capital Market Authority and the company’s articles of association and related regulations. These policies have been approved by the company’s General Assembly and the Board of Directors.
Slide 137: Governance provisions not applied
Sumou applies all provisions of the Corporate Governance Regulations issued by the Capital Market Authority, except for the following: Article/paragraph Article text/paragraph Reasons for non-application number 37 Training The Board of Directors will work on preparing the relevant policies The artic
Slide 138: 15- Board declarations
15- Board declarations 138
Slide 139: Board of Directors acknowledgments
The Board of Directors acknowledges the following: The account records have been properly prepared. The internal control system has been designed on sound foundations and has been effectively implemented. There is no doubt about the company's ability to continue its activities. 139
Slide 140: 16- Disclosure
16- Disclosure 140
Slide 141: Company confirmations on shares and debt instruments
1. The company confirms that there are no shares and debt instruments issued to subsidiaries. 2. The company confirms that the company has no transferable debt instruments, no contractual securities, subscription right memorandums, or similar rights issued or granted by the company during the fiscal
Slide 142: Company confirmations on penalties and treasury shares
10. The company confirms that it has not received any penalty, precautionary measure or precautionary restriction imposed on the company by the Authority or any supervisory, regulatory or judicial authority. 11. The company confirms that There are no treasury shares held by the company. 12. The comp
Slide 143: Auditor and Audit Committee confirmations
17. There is no recommendation from the Board of Directors during the year 2023 to change the auditor before the end of the period for which it was appointed, as Al-Azm, Al-Sudairy, Al-Sheikh and their partners were appointed to audit the company’s accounts for the year 2023, and the appointment per
Slide 144: 144
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Sumou Real Estate — Investor Presentation (March 2024) on 6ix