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

SUMOU
Tadawul All Shares Index

SUMOU

4323.SA

0.00

Tadawul All Shares Index

TASI.SA

0.00

July 2 (Reuters) - SUMOU REAL ESTATE COMPANY 4323.SE:

  • SIGNS PROJECT DEVELOPMENT MANAGEMENT AGREEMENT WITH ARCH 3 FOR JEDDAH PROJECT

  • AGREEMENT FOR BENEFIT OF ARCH REAL ESTATE DEVELOPMENT FUND 3 , FOR A PROJECT ON A LAND LOCATED IN JEDDAH

  • CONTRACT DURATION THIRTY-SIX (36) MONTHS

  • RECEIVES DEVELOPMENT MANAGMENT FEE OF 10% OF CONSTRUCTION CONTRACT VALUE

  • SCOPE OF WORK INCLUDES MANAGING ALL PHASES OF PROJECT DEVELOPMENT

  • PROJECT INVOLVES DEVELOPMENT OF A MIXED-USE BUILDING

  • TOTAL BUILT-UP AREA OF APPROXIMATELY 57,000 SQUARE METERS

  • COMPANY WILL RECEIVE A MARKETING FEE 3% OF THE PROJECT'S TOTAL SALES VALUE

Source text: ID:nSSE7HsPLK

Further company coverage: 4323.SE


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