Saudi: Sumou Real Estate awarded $181mln development agreement

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Deal to establish more than 900 residential villas in the Makkah Gate project

Mubasher, Mubasher

April 22, 2025

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Riyadh – Sumou Real Estate Company announced a SAR 680 million development deal with the National Housing Company to establish more than 900 Residential Villas in the Makkah Gate project.

The company was awarded the project on 20 April 2025, according to a bourse disclosure.

The Tadawul-listed company will announce any future developments regarding the award, and upon signing the sub-development contract with the National Housing.

Last February, Sumou Real Estate penned a SAR 130 million credit facilities deal with Saudi Awwal Bank (SAB).

Source: Mubasher

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