Sumou Real Estate Company penned a sales and marketing agreement with Adeer Real Estate on 29 September 2022 for Area No. 1/B of Dahiyat Al Fursan 1 and 2 in Riyadh.

Adeer will receive 2.50% of the total value of the sold units, including sales and marketing expenses, according to a bourse disclosure.

The Saudi listed firm expected that the deal will reflect positively on its financial results once the implementation of the project and sales commence.

Last month, Sumou Real Estate inked a SAR 403 million contract with the National Housing Company for Al Fursan project, under which the former would build residential units on an area of 82,482 square metres.