Riyadh - Mubasher: Sumou Real Estate Company announced that its board of directors approved the formation of a new executive committee on 4 July 2026.
The committee’s term is scheduled to begin on 5 July 2026 and will conclude upon the expiration of the current board term on 23 December 2028, according to a bourse filing.
The committee is composed of 4 members, with Abdullah Al Budair appointed as chairman. Al Budair, a board member with 26 years of professional experience, previously served as Vice Minister at the Ministry of Municipalities and Housing from 2020 to 2024.
He holds a bachelor’s degree in computer engineering from 2001 and a master’s degree in business administration from 2015.
Joining the committee as members are Ziad Bassam Al-Bassam, Saeed Salem Al Nahdi, and Essam Kalthoum. Al-Bassam brings over 25 years of experience and has chaired the Al Bassam Group since 2020.
Al Nahdi, the current CEO and Vice Chairman of Sumou Holding, possesses more than 30 years of experience in real estate development and investment.
Kalthoum, who graduated with a civil engineering degree in 1982, contributes over 40 years of expertise in the industrial and real estate sectors.
On 1 July, Sumou Real Estate entered into a project development management agreement with Arch 3 Real Estate Development Company for a significant mixed-use development in Jeddah.
