Sumou wins SAR 135M project in Jeddah

Sumou Real Estate Co. was awarded a project in Obhur Al-Janoubiyah district of Jeddah by Diyar Real Estate Development Fund Co., which represents a real estate fund managed by SEDCO Capital.

The project is valued at approximately SAR 135 million (excluding VAT), according to a statement to Tadawul.

Sumou will manage the development and implementation of the project’s infrastructure, covering an area of 960,000, in partnership with Diyar Real Estate Development Fund.

Any related developments will be duly disclosed and there are no related parties involved, the statement added.