MODON

 MODON

 ​The Saudi Industrial Property Authority (MODON) was established in 2001. MODON is responsible for the development of industrial cities with integrated infrastructure and services; whereas MODON has established industrial cities in various regions of the Kingdom, and is currently overseeing 34 existing and underdevelopment cities which include: Riyadh (1, 2 & 3), Jeddah (1, 2, 3 & 4), Dammam (1, 2 & 3), Makkah, Qassim (1 & 2), Al-Ahssa’(1 & 2),  Madinah, Al-Kharj, Sudair, Al-Zulfi, Shaqraa, Dhurma, Hail, Tabuk, Ar'ar, Al-Jouf, Assir, Jazan, Najran, Al-Baha(1 & 2), Taif and Hafr Al-Baten. In addition, there are cities under planning and designing which include: Salwa, Dhuba, Nawan, Military industries and, Jeddah 4. It is targeted that during the coming five years, the number of the industrial cities shall reach 40 cities with more than 178 million square meters of developed industrial lands.

There are more than 5800 factories in the existing industrial cities with investments exceeding 500 billion riyals, and more than 480,000 employees.

MODON is also responsible for creating the ideal environment for growth and development of technology zones in the Kingdom of Saudi Arabia, where MODON is currently overseeing two technology zones and is seeking to earmark further zones towards acquiring the latest technological investments.

Private industrial cities, with the highest global standards and specifications, are under direct MODON supervision. Currently MODON oversees six private industrial cities and is about to oversee more private industrial cities.

The industrial cities have many economic advantages and incentives for attracting the industrial, technical, service, residential and commercial projects. The annual rent of the land starts from one riyal per square meter. The government’s financial bodies and banks provide loans of up to 75% of the capital, with an extended repayment period of up to 20 years. In addition, there are other incentives related to exports and custom duties, by guaranteeing Saudi exports to international markets and by providing customs duty exemptions for imported raw materials and equipment.