Hey,
I have applied visit visa thru new portal from Saudi Arabia. Don't worry about the processing time mentioned on the IRCC portal and don't worry about Iqama expiry. I was in the similar situation with Contract renewal in June and Iqama Expiry in July. I mentioned travelling period as 3 Weeks from mid of June (or something)
I received the visa with 15 days after submission of application. Kindly review below list of documents which were uploaded in the new portal system along with application.
1) Translated copy of Iqama - Immigration Status (Required)
2) Translated copy of Iqama - National Identity ID (Required)
3) Passport Copy (First &Last Page) - Passport Section (Required)
4) Employment Letter + 6 Months Pay Slip (Make one pdf File) (Required)
5) Marriage Certificate (Translation if not in English) (Required)
6) Bank Statement - 6 Months (Salary Account ) (Required) [Make sure the balance is suffient enough to cover the travelling period]
7) Invitation Letter from Friend or Family ( optional ) - However, I submitted along with application.
Hope the above details are helpful to proceed with your application.