Sumou Real Estate Company has announced the signing of a SAR135 million ($36.01 million) contract with Diyar Real Estate Development Company, representing a real estate fund managed by Sedco Capital Company, to carry out infrastructure development works for a major project in North Obhur, Jeddah.

According to a filing on the Saudi Exchange (Tadawul), Sumou Real Estate will be responsible for the development and execution of infrastructure works across a total area of 960,000 square metres. The company stated that the project will be completed within two years from commencement.

The large-scale project is located in one of Jeddah’s fastest-developing neighbourhoods, North Obhur, an area that has seen significant investment in recent years, driven by demand for residential and mixed-use developments along the Red Sea coast.

Sumou Real Estate noted that the contract aligns with its long-term strategy to expand its role in national real estate development and infrastructure projects. The company added that it expects the deal to have a positive impact on its financial results, contributing to its earnings over the duration of the project.

Neither company disclosed additional details regarding the project’s design or intended use, though it is anticipated to form part of broader development plans aimed at enhancing Jeddah’s northern coastal corridor.

The agreement marks another milestone in Sumou’s portfolio of infrastructure and development partnerships across Saudi Arabia, underscoring its growing presence in large-scale urban expansion projects that support Vision 2030’s focus on real estate and community development.