Sumou Real Estate Signs Project Development Management Agreement With Arch 3 For Jeddah Project

About this update from Sumou Real Estate Co.

SUMOU REAL ESTATE COMPANY TADAWUL:4323:SIGNS PROJECT DEVELOPMENT MANAGEMENT AGREEMENT WITH ARCH 3 FOR JEDDAH PROJECTAGREEMENT FOR BENEFIT OF ARCH REAL ESTATE DEVELOPMENT FUND 3 , FOR A PROJECT ON A LAND LOCATED IN JEDDAHCONTRACT DURATION THIRTY-SIX (36) MONTHSRECEIVES DEVELOPMENT MANAGMENT FEE OF 10% OF CONSTRUCTION CONTRACT VALUESCOPE OF WORK INCLUDES MANAGING ALL PHASES OF PROJECT DEVELOPMENTPROJECT INVOLVES DEVELOPMENT OF A MIXED-USE BUILDINGTOTAL BUILT-UP AREA OF APPROXIMATELY 57,000 SQUARE METERSCOMPANY WILL RECEIVE A MARKETING FEE 3% OF THE PROJECT'S TOTAL SALES VALUE

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