Sumou wins SAR 7M contract to manage infra work for land in Jeddah

Sumou Real Estate Co. headquarter

Sumou Real Estate Co. signed, on Sept. 25, a contract with Baitek Real Estate Co. to manage the infrastructure development of a land plot in Jeddah for a total development fee of SAR 7 million.

In a statement to Tadawul, the company said the land spans 707,254 square meters.

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The contract duration is 30 months, the statement said.

The project is expected to positively impact the company's results once the contract is signed.

There are no related parties to the deal.