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Al-Aqariyah to develop Porta Jeddah phase one
The Saudi Real Estate Company has signed a contract valued at 463.13 million riyals for the first phase of the "Porta Jeddah" project, located in the Al Nahda neighborhood along King Abdulaziz Road in Jeddah. The contract includes the structural framework of the hotel, external facades, electromechanical works excluding the hotel, and public squares with green spaces. The duration of the contract is 820 days, and the financial impact is expected to be reflected in the financial statements starting from the fourth quarter of 2026. The project aims to develop various facilities, including a hotel, hotel suites, offices, commercial corridors, and entertainment amenities. It is the company's first significant project in Jeddah as part of its strategy for geographical expansion across the Kingdom.
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