Modon lands industrial + logistics MoUs worth USD bns: The Saudi Authority for Industrial Cities and Technology Zones (Modon) has inked SAR 8.8 bn (USD 2.3 bn) in 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 100 mn agreement with Jingdong Property to develop warehouses on a 50k sqm area in the Modon Oasis in Jeddah;
  • A SAR 3.7 bn agreement with Jingdong Property to partner up in the study and operation of industrial and logistics projects spanning over 1.5 mn sqm across industrial cities in the Kingdom;
  • A SAR 5 bn agreement with Wangkang (Eternal Prosperity) to build an industrial complex in the Third Industrial City in Dammam over 1.8 mn sqm area.

Modon shows no signs of slowing down: Modon attracted overSAR 24 bn in new investments in 2024 — a 38% y-o-y surge — including SAR 18 bn in local and SAR 6 bn in foreign investments. The 2024 figures brought total investments across Modon’s portfolio of industrial cities to SAR 440 bn. Modon now has 40 industrial cities, with more than 240 mn sqm of developed areas, featuring over 9k industrial, logistical, and investment facilities.

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