Al Akaria signs SAR479m of Porta Jeddah construction and PMC contracts

Saudi Real Estate Company, Al Akaria, has signed construction and project-management agreements worth a combined approximately SAR479m ($128m) for its Porta Jeddah mixed-use development.

The principal agreement is a SAR463.13m contract with MOBCO for Package One. Al Akaria has also appointed Saudi Arabian Parsons under a SAR15.88m project and construction-management contract.

Porta Jeddah occupies a 47,971-square-metre site in the Al Nahdah district on King Abdulaziz Road and has approximately 132,918 sq m of gross floor area. It will combine an internationally branded hotel and serviced apartments with Grade A offices, retail, restaurants, leisure facilities and public space.

MOBCO’s 820-day package includes structural works across the development, hotel structural works, external façades, electromechanical works for the non-hotel components, public areas and landscaping.
Parsons will provide project and construction management across the development, including review of the hotel design and coordination among the various delivery parties.

The construction award itself was originally announced in May, so the new event is contract signing plus the Parsons appointment, not a fresh MOBCO award. That distinction should be explicit in our story.

Sources: Al Akaria, Saudi Exchange, Saudi Gulf Projects.