Sumou Real Estate Company announces in a statement that it had signed two contracts to construct 412 residential villas in Khayala Housing Project (Dar Sumou) in Jeddah.
The Projects has been awarded to following two companies:
- International for Modern Industries Company
- Modern Trains Company
Earlier, during August 2020, Sumou signed Khayala housing Project contract of $80 million with National Housing Company (NHS) (read more)
Khayala Housing Project is one of the superstructure projects that the company is developing and implementing with the National Housing Company with off plan sale and the value of the contracts exceeds 50% of the company’s net assets.
The duration of the contract is 24 months.
The company started to sign the two construction contracts and preparatory work for executing the project after receiving the project land from the National Housing Company, statement said.
