Sumou Real Estate Co., Saudi Arabia announced in a statement that it has signed development agreement for Al Samiya residential project with the National Housing Company in Al Madinah Al Munawara.

The value of the agreement is SAR 540 million.

The agreement is for the development of Area No. 2, Abyar Ali project (Al Samiya residential project) in Madinah, to build residential units up to (507) villas on the lands allocated to Sumou Real Estate Company, with an area of 128,740.6 m2.

The duration of the project is 42 months from its effective date, statement mentioned.