| Element List | Explanation |
|---|---|
| Introduction | Sumou Real Estate Company announces the signing of a development management agreement for “Anara Project” to construct 753 residential units on the land located in the Al-Sahab district in the city of Riyadh, with a total area of 748,022.12 SQM with Maali AlJazira Real Estate Co. representing AlJazira Sumou Real Estate Fund. |
| Date of Announcement of the Award | 2025-09-21 Corresponding to 1447-03-29 |
| Contract Subject Matter | Signing of a development agreement for the Anara Project with Maali AlJazira Real Estate Co. representing AlJazira Sumou Real Estate Fund to build 753 residential units on the land located in Al-Sahab district in Riyadh City, with a total area of 748,022.12 m². |
| The Entity with Which the Contract was Signed | Maali AlJazira Real Estate Co. representing AlJazira Sumou Real Estate Fund |
| Date of Signing the Contract | 2025-09-21 Corresponding to 1447-03-29 |
| Contract Value | Sumou Real Estate is entitled to development management fees with an estimated value of SAR 76,600,000, representing 10% of the estimated project costs, exclusive of VAT. |
| Contract Details | Signing of a development management agreement for the Anara Project to build 753 residential units on land located in the Al-Sahab district of Riyadh, with a total area of 748,022.12 m². Sumou Real Estate is entitled to development management fees with an estimated value of SAR 76,600,000, representing 10% of the total project costs, exclusive of VAT. The agreement was signed on 21-09-2025, corresponding to 29-03-1447H. |
| Contract Duration | 36 months starting from the issuance of the project license by the Real Estate General Authority. |
| Financial Impact and the Relevant Period | The project is expected to have a positive impact on the Company’s results after the issuance of the off-plan sales license and the commencement of sales and implementation |
| Related Parties | N/A |
| Additional Information | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.