Ader Real Estate signs contract with Sumo Holding to market and sell developed lands in Ouatat Jeddah plan
Ader Real Estate has signed a contract with Sumo Holding to market and sell developed lands in the Ouatat Jeddah plan. The total area is 707,250 square meters, and the project will be marketed off-plan. Ader will receive a 2.5% brokerage commission and a 2.5% marketing commission. The contract is for 12 months.
Ader Real Estate signs contract with Sumo Holding to market and sell developed lands in Ouatat Jeddah plan
Logo of Ader Real Estate
Last Thursday, Ader Real Estate signed a contract with Sumo Holding to market and sell developed lands in the Ouatat Jeddah plan located in Jeddah - Al Kawthar district, with a total area of 707,250 square meters, where the project is being developed and marketed through an off-plan sales system.
The company explained in a statement on Tadawul that it will receive a brokerage commission of 2.5% of sales, as well as a marketing commission of 2.5% of sales to cover marketing and sales costs and the establishment of a sales center.
It stated that the contract duration is 12 months starting from the signing date, expecting this contract to have a positive financial impact upon the start of selling the developed lands and transferring them to buyers and collecting the company's fees.
The company indicated that Sumo Holding is considered a related party.
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Original source: Argaam
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