MODON develops 8 mln sq. m of industrial lands in 2016

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Saudi Industrial Property Authority (MODON) has developed 8 million sq. meter of industrial lands over the past year 2016, bringing the total lands developed until the end of 2016, to more than 190 million sq. meter in all the 35 industrial cities it supervised and distributed throughout the regions of the Kingdom.

Sami Al-Hussaini, Director of Marketing and Corporate Communications at MODON, said lands developed during 2016 targeted the three sectors under which all the industrial cities in the Kingdom fell — these are cities of the Eastern region by 40 percent, cities of the Central region by 26 percent, and cities of the Western region by 34 percent.

Al-Hussaini pointed out that the increase in industrial land development coincided with an increase in the number of industrial, service and logistics contracts signed by MODON in the past year.

“MODON reduced its land allocation time period to not exceeding a maximum of 20 days — starting from the date of submission of the application until the receipt of the allocated land,” he said.

The percentage of developed industrial land increased by 200 percent in 2016 from what was developed in 2015, which amounted to 4 million square meters.

This report was first published in Saudi Gazette on March 15, 2017.

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