Modon lands multi-bn MoUs at Unido: The Saudi Authority for Industrial Cities and Technology Zones (Modon) inked SAR 8.8 bn (USD 2.3 bn) worth of agreements with Chinese firms to develop industrial and logistics projects across over 3.3 mn sqm of space, according to a statement. The contracts were inked during the United Nations Industrial Development Organization’s (Unido) General Conference in Riyadh.
The agreements include:
- A SAR 5 bn agreement with Wangkang (Eternal Prosperity) to build an industrial park in Dammam’s Third Industrial City over a 1.8 mn sqm area;
- A SAR 3.75 bn agreement with Jingdong Property to collaborate on studying and potentially operating industrial and logistics projects spanning over 1.5 mn sqm across several industrial cities nationwide.
- A SAR 100 mn agreement also with Jingdong Property to develop warehouses on a 50k sqm area in Jeddah’s Modon Oasis;
Modon is showing no sign of slowing down: Modon attracted over SAR 24 bn in new investments in 2024 — up 38% y-o-y — including SAR 18 bn in local and SAR 6 bn in foreign investments. The 2024 figures brought investments across Modon’s portfolio of industrial cities to SAR 440 bn.
- Modon now boasts 40 industrial cities, with more than 240 mn sqm of developed areas, featuring over 9k industrial, logistical, and investment facilities.