Saudi Real Estate Co. (Al Akaria) has announced the award of the first execution package for its Porta Jeddah mixed-use development project in Jeddah to MOBCO – Mounes Mohamed Alshayeb for Civil Construction (MOBCO) at a contract value of SAR 463.13 million, excluding VAT.

The awarded package represents a major milestone in the development of the Porta Jeddah project and covers a broad scope of construction and infrastructure works across the mixed-use destination.

Under the contract, MOBCO will undertake the structural works for all project components, including the hotel tower, in addition to the execution of external facades and electromechanical works for all project facilities excluding the hotel. The package also includes the development of public spaces and landscaped areas within the project.

Porta Jeddah is being developed as an integrated mixed-use destination in Jeddah, reflecting Al Akaria’s strategy to expand its real estate portfolio through high-quality urban developments that support the Kingdom’s economic diversification and urban transformation goals.