Sumou signs SAR 562.5M contract to develop project in Madinah

04/06/2025 Argaam

Sumou signs SAR 562.5M contract to develop project in Madinah

Sumou Real Estate Co. headquarters

Sumou Real Estate Co. signed on June 3 a contract for the development and execution of infrastructure and construction works for SEDCO Capital Sumou project in Madinah.

 

For more news and details on the projects

 

In a statement to Tadawul, Sumou pointed out that the 24-month contract was signed with the SEDCO Capital Sumou Fund, represented by Jawhara Investment and Real Estate Development Co., at a total value of SAR 562.48 million.

 

The contract will commence upon the issuance of the project license by the General Real Estate Authority.

 

The project spans an area of 268,800 square meters.

 

It is expected to have a positive impact on the company’s financial results starting from the commencement date of the project, the statement added.

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