| Element List | Explanation |
|---|---|
| Introduction | Sumou Real Estate Company announces the signing of selling and marketing agreement for Al Samiya project in Area No. 2 of Abyar Ali project in Madinah with Adeer Real Estate company ( a related party), on the lands allocated to Sumou Real Estate Company from the National Housing Company, with an area of 128,740 m2 |
| Project Start Date | It is expected to start within three months from date of signing the agreement. |
| Project Cost | Adeer Real Estate will be receiving 2.5% from the value of sold units for marketing and selling sold units |
| Financing method for the project | The project will be financed based on off-plan sales and partially on equity |
| Expected completion date of the project | The agreement will end with Adeer Real Estate Company after completing selling units |
| Expected Impact on the Company’s Financial Results | The project is expected to have a positive impact on the company's results at the start of selling the project. |
| Expected Date on Which the Impact on the Financial Results of the Company will Start | Details of the financial impact and project developments will be announced during next period |
| Expected Date for the Pilot Production of the Project to Begin | N/A |
| Duration of the pilot production of the project | N/A |
| Expected date for the commercial production of the project | N/A |
| Executing Party/Counter Party in the Project/Contract | Adeer real estate company (a related party) |
| Related Parties | Adeer real estate company (a related party) |
| Additional Information | N/A |
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