The company has received the letter of intent, and construction is expected to begin in July.
Work will begin on the 18-floor east tower, before moving on to the 54-floor west tower. Construction will not begin until the design, which is currently under review, is finalised.
The client is the local Aldar al-Khasa.
The mixed-use development is located on the Jeddah corniche and will occupy 65,000 square metres.
A contract had previously been expected by the end of February (MEED 5:3:08).
Saudi Freyssinet is also one of five firms that have been prequalified for the main construction contract on the $560m Andalusia Square Towers project in Jeddah (MEED 19:5:08).