| Element List | Explanation |
|---|---|
| Announcement Detail | Sumou Real Estate Company announces the acquisition of 80% stake in Al-Mahafel Trading and Contracting Company Ltd. on 06-10-2021 corresponding to 29-02-1443 H, Where Al Mahafel Co. will invest and develop the land located on Makkah region - Asfan municipality -Al hijrah road, with an area of (1,321,749.48) Which the company lease it on a long-term lease contract (25 years) - in order to establish a multi-purpose market, and Sumou Real Estate Company will manage the development and implementation of the project. |
The impact of this acquisition on the company’s result is expected to be positive effective from the start of the project's operation.
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