SUMOU REAL ESTATE COMPANY TADAWUL:4323:
SIGNS PROJECT DEVELOPMENT MANAGEMENT AGREEMENT WITH ARCH 3 FOR JEDDAH PROJECT
AGREEMENT FOR BENEFIT OF ARCH REAL ESTATE DEVELOPMENT FUND 3 , FOR A PROJECT ON A LAND LOCATED IN JEDDAH
CONTRACT DURATION THIRTY-SIX (36) MONTHS
RECEIVES DEVELOPMENT MANAGMENT FEE OF 10% OF CONSTRUCTION CONTRACT VALUE
SCOPE OF WORK INCLUDES MANAGING ALL PHASES OF PROJECT DEVELOPMENT
PROJECT INVOLVES DEVELOPMENT OF A MIXED-USE BUILDING
TOTAL BUILT-UP AREA OF APPROXIMATELY 57,000 SQUARE METERS
COMPANY WILL RECEIVE A MARKETING FEE 3% OF THE PROJECT'S TOTAL SALES VALUE