First published: 12-May-2026 11:28:46

Staff Writer

Saudi Real Estate Company (Al Akaria) has awarded the contract for the Porta Jeddah mixed-use project to Mounes Mohamed Alshayeb for Civil Construction (MOBCO).

The contract (Package 1) is valued at 463.13 million Saudi riyals ($123.44 million), the company said in a statement to the Saudi stock exchange.

The package includes structural works for all project components, including the hotel, external facades, electromechanical works for all components excluding the hotel, and public and landscaped areas.

The timeline for completion of the package was not disclosed.

Porta Jeddah is designed by UK-headquartered Chapman Taylor and has a gross built-up area (BUA) of 123,000 square metres (sqm). It will feature a 183–230-key lifestyle hotel, 53 serviced apartments, retail, Food & Beverage, and a central plaza, according to the architectural firm's website.

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

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