Sumou inks SAR 680M development agreement in Makkah

Sumou Real Estate Co. announced signing, on May 22, an agreement with National Housing Co. (NHC) to develop Areem Makkah project on the land plots allocated to Sumou within Makkah Gate project, according to a statement to Tadawul

Area O2 spans around 231,600 square meters, with an estimated value of SAR 680 million (excluding VAT).

The 42-month agreement begins May 23, 2025.

The project will likely have a positive impact upon the unit sale and implementation.

The agreement included no related parties, the statement added.