Sumou Real Estate Company has signed a contract with Areeb Advanced Real Estate Company to develop, design and construct a residential and commercial tower in Makkah for Areeb Sumou Makkah Real Estate Fund.
 
The mixed-use project will cover a 3,066-square-metre (sqm) plot in the Jabal Omar district of Makkah at an estimated cost of 423.4 million Saudi riyals ($112.88 million), the developer said in a statement to the Saudi stock exchange.
 
Additionally, Sumou will receive a 10 percent development management fee on construction costs.
 
The contract has a duration of 39 months, the statement said.

Areeb Sumou Makkah Real Estate Fund is an opportunistic real estate fund managed by Areeb Capital, according to PitchBook data.

In October 2025, Sumou Real Estate secured a contract from Diyar Real Estate Development Company to develop and execute infrastructure works on a project in the North Obhur neighborhood in Jeddah. 

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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