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Adeer Real Estate Service has signed a contract with Sumou Taibah Real Estate Company covering brokerage and property management services. As per the disclosed terms, Adeer will receive a brokerage commission of 5 percent of the first year's rental value for leased units. It will also earn annual property management fees of 5 percent. Adeer, a Saudi-listed real estate services firm, focuses on leasing and management rather than property development. The agreement aligns with its fee-based business model, while specific details on asset size or contract value have not been disclosed.
Adeer Real Estate Service has entered into a formal agreement with Sumou Taibah Real Estate Company, strengthening its role in leasing and managing real estate assets. The company disclosed that the contract covers brokerage services for leased units along with ongoing property management responsibilities. The announcement was made through a regulatory filing cited by Reuters. Advertisement
Under the agreement, Adeer will earn a brokerage commission equal to 5 percent of the first year's rental value for units successfully leased under the mandate. In addition to brokerage income, the company will receive annual property management fees fixed at 5 percent. These fees will be payable on a recurring basis for the duration of the management arrangement.
Adeer Real Estate Service is listed on the Saudi Exchange and operates primarily in real estate services, including leasing support and property management. The company has, in the past, focused on fee-based income streams rather than asset-heavy development, which allows it to maintain lower balance sheet risk. Contracts of this nature form a key part of its revenue model, as income is linked to rental performance and ongoing management services rather than one-time transactions.
Sumou Taibah Real Estate Company is active in property ownership and leasing, particularly in income-generating real estate assets. The agreement indicates a structured approach where leasing and post-lease operations are handled by a specialised service provider, a model increasingly used by property owners to ensure stable occupancy and professional asset upkeep.
No financial value of the overall contract was disclosed beyond the commission and fee structure, and Adeer did not indicate the number or type of units covered under the agreement. Further operational details are expected to be reflected in the company's future financial disclosures.
Source Reuters
5th Jun, 2025
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