Sumou Real Estate Company has signed a 1.3 billion Saudi riyal ($346.54 million) contract with Jubail and Yanbu Industrial Cities Services Company (JABEEN).

The contract is for completing primary and secondary infrastructure works and designing and constructing 1,104 residential units in Yanbu Industrial City, the developer said in a statement to the Saudi stock exchange on Wednesday.  
 
The contract has a duration of 36 months for development and implementation, the statement added.

Editing by Anoop Menon) (anoop.menon@lseg.com)

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