Mumtalakat’s subsidiary, Mumtalakat Properties, was founded in 2017 by Saudi Real Estate Company and South Korea’s POSCO Group to manage and maintain properties, improving asset performance and operational efficiency.
Al Akaria secures the Package One construction contract and project management agreement for the Porta Jeddah development. The deal partners MOBCO and Parsons as key collaborators on the project. This marks a significant milestone in Al Akaria’s expansion in Saudi Arabia’s infrastructure sector.
Al Akaria reports improved profitability in 2025, driven by operational efficiency and targeted investments. The company highlights cost optimization and strategic spending as key factors in its financial performance. Revenue growth and margin expansion are noted as outcomes of these initiatives.
Al Akaria has signed a lease agreement for the Al Reef Residential Compound in Riyadh’s Diplomatic Quarter with Amsa Hospitality. The deal secures a residential property development in a high-demand area. The partnership focuses on delivering premium living spaces for diplomats and expatriates.
Al-Akaria secures a contract to develop the Al-Narjis Business Park in Riyadh’s Al-Narjis District. The project targets commercial real estate growth in the region. Development details, including scale and timeline, are not yet disclosed.
