Saudi Industrial Cities and Technology Zones Authority (MODON) announced that it attracted (24) billion riyals of new local and foreign investments during 2024 with a growth rate of (38%) compared to 2023, bringing its cumulative investment volume to (440) billion riyals in (39) industrial cities around the Kingdom.
In its annual report for the year 2024, MODON indicated that attracting new local and foreign investments during the reporting year comes in line with its vision to be the preferred destination for investment growth and the first partner of the industrial and technical system, and to achieve the objectives of the National Industrial Strategy and the aspirations of the Kingdom's Vision 2030 by providing a vibrant industrial community and creating an industrial and productive environment that consolidates the Kingdom's position as a leading industrial center in the region.
The Authority explained that in 2024, the number of industrial, logistics, investment and data center facilities grew to (8,616) facilities that contribute to supporting local content and developing national exports, with a growth rate of (9%) from the previous year, and the number of jobs increased by (10%) to (593) thousand jobs.
It revealed that the area of developed land in its industrial cities increased by (7%) to reach (219.5) million square meters, and the completion of (80) projects by (100%) compared to 2023, through the use of the best human cadres, and partnerships with the most prominent local and international partners.
“Cities” succeeded in achieving a full commitment rate of (100%) in implementing its strategic initiatives at the level of the Kingdom's Vision 2030, according to the accreditation of the National Center for Performance Measurement of Public Agencies “Perform”, reflecting its commitment to achieving sustainable development and promoting economic growth, and the total number of implemented initiatives (32) strategic initiatives at a total cost of (16.3) billion riyals.
The Authority was able to achieve more than the targeted growth during the year by signing more than (875) new industrial, logistics and investment contracts that were attracted as a result of expanding the implementation of ready-made product projects, land allocation, effective communication with investors, and providing solutions that suit future needs to ensure investor satisfaction and sustainable growth.
MODON inaugurated the food cluster in Jeddah, which was certified the largest in the world by the Guinness Book of World Records, while crowning its work with (36) local, regional and international awards and certificates, including the King Abdulaziz Quality Award, which is the most important national reference for institutional excellence and the main catalyst for driving progress in the country, for its efforts in promoting a culture of quality and excellence in the industrial sector; in line with its vision to be the preferred destination for the growth of local and foreign investments and the first partner of the industrial, technical and logistics system.
Since its establishment in 2001, the Saudi Industrial Cities and Technology Zones Authority (MODON) has been developing and managing industrial cities, technology zones and data centers in line with national priorities, in partnership with the public and private sectors, in addition to supervising private industrial parks and cities.
The Saudi Industrial Cities and Technology Zones Authority (MODON) is responsible for developing and managing industrial cities, technology zones and data centers in line with national priorities and in partnership with the public and private sectors.
