On July 2, 2026, Sumou Real Estate Company announced the signing of a Project Development Management Agreement with Arch 3 Real Estate Development Company, for the benefit of Arch Real Estate Development Fund 3, effective July 1, 2026. The agreement covers the development of a mixed-use building on a 6,394 square meter land plot in Jeddah, with a total built-up area of approximately 57,000 square meters. Under the agreement, Sumou will receive a development management fee of 10% of the construction contract value, a marketing fee of 3% of total sales value, and a real estate brokerage commission of 2.5% of total sales value. The contract spans 36 calendar months from the date of issuance of the Off-Plan Sales License, and the project is expected to positively impact the company's financial results upon commencement of work.

Original announcement:

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