For inquiries
Riyadh, Saudi Arabia
His Highness Real Estate Company, listed on the Saudi market, has announced the signing of two agreements with Downtown Saudi Arabia, which are wholly owned by the Saudi Public Investment Fund, to manage the development, implementation, marketing and sale of two residential projects within the Downtown Al-Khobar project, for a period of 48 months starting from the effective date of each agreement.
The company confirmed in two separate statements on "Tadawul" that the first project is located north of the boulevard, on a land area of 28.3 thousand square meters, and includes the construction of medium-high residential buildings containing residential units for marketing and sale.
She said that the second project includes the construction of a high-rise residential tower, which contains residential units to be marketed and sold, on a land area of 4.8 thousand square meters, within the project "Downtown Al-Khobar".
The first project is located in the north of the Boulevard on a land area of 28.3 thousand m2
Under the two agreements, Downtown Saudi Arabia will provide land as an in-kind contribution to the two projects, while Sumu Properties’ contribution includes partial investment, financing the remaining part of the proceeds of the off-plan sale, with the appointment of a developer, executor and marketer of the two projects in exchange for agreed fees for the Department of Development and Marketing, in addition to a share of the net profit of the project.
He explained that she will receive a development management fee of 6.5% of the total development costs, in addition to marketing and sale fees of 2% of the total sales, and will receive a share of 32% of the net profits of each project in return for its investment in it, and the company expected that the two projects will have a positive impact on its financial results after the validity of the two agreements and the start of the implementation of the work.
For more Information contact: www.dxrprop.ae
Call/WhatsApp: +971501090635
Email: alnashra2013@gmail.com
– To write a special article about the name of your organization or company, you can write to the following email: