Al Akaria set to appoint contractors for new projects in Riyadh, Jeddah
These include Al-Narjis Office project in Riyadh and the Porta Jeddah mixed-use development in Jeddah, acting CEO Khalid Alsehaibany said.
The Fai Sedra-1 project, comprising 138 residential units, is expected to be completed in the first quarter of 2026, the senior executive said.
Additionally, the company is currently in the process of appointing the main contractor for the Fai Sedra-2 project, which includes 310 residential units with expected completion by the end of 2027.
Significant progress has been achieved in the Al-Reef Residential Community project in the Diplomatic Quarter, which spans 39,000 sq m. The scheduled completion and operation is expected in 2026.
Work is also underway on the 22,000-sqm Tilal Commercial Centre in Al Malqa district in Riyadh. The expected completion is next year, Alsehaibany said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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