Al Akaria awards first package of Porta Jeddah project at SAR 463.1M

Saudi Real Estate Co. (Al Akaria) awarded, on May 11, the first package of the Porta Jeddah project in Jeddah to Mounes Mohamed Alshayeb for Civil Construction (MOBCO) at SAR 463.13 million, excluding VAT.

The company said in a Tadawul filing that the first package includes execution of the structural works for all project components. This includes the hotel, external facades, and electromechanical works for all project components except the hotel, in addition to public plazas and landscaped green areas.

There are no related parties involved, the developer noted.