“Adeer” signs an agreement to manage and market the commercial center for the “Sumou Gate” project
Adeer Real Estate Company announced the signing of an exclusive agreement to provide marketing, leasing and property management services for the Sumou Gate – Commercial Center project, located in Medina, which contains 157 commercial units with a total area of (17,361) square metres, with Sumou Taiba Real Estate Company.
The agreement, which was signed on January 27 of this year, extends for 3 calendar years and is automatically renewed unless either party notifies the other party of its unwillingness to renew, and under it the company obtains "I manage" You will receive a brokerage commission for leasing operations at a rate of 5% of the first year’s rental value for the rented units, and you will also receive fees for performing property management services at a rate of 5% annually of the total annual rental value collected from tenants.
This agreement is expected to have a positive financial impact as of the date of signing the agreement and the start of leasing, operation and management operations.
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