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Modon has spent US$1.86 billion on industrial cities

Modon revealed that the total cost of the establishment, expansion and development of industrial cities in Saudi Arabia over the past four years has amounted to about US$1.86 billion.

Dr. Tawfig Bin Fawzan Alrabiah, the Director General of Saudi Industrial Property Authority (Modon), emphasised that the total costs include projects costs for providing services to the industrial cities such as, road networks, electric power and water projects, as well as infrastructure development projects, in addition to the development projects for facilities and support services, such as residential, commercial and logistical complexes.

Dr. Alrabiah added that Modon currently oversees 20 industrial cities spread all around the Kingdom and plans to establish new cities and expand existing ones. Modon plans to increase the number of industrial cities to more than 40 by the year 2015, which would double the developed area of the industrial cities to 160 million square meters

The new industrial cities planned by Modon to be developed until the end of 2015 include; the expansion of Sudair, expansion of Al-Kharj , Shaqraa', Dammam 3rd., Jeddah 3rd., Hafr Albatin, Ahsaa 2nd., Gurayaat , Dhuba, Qassim 2nd., Baha 2nd. and Rabigh.

"There are a number of industrial incentives offered to investors, including a nominal rent for industrial lands, provision of water and energy at subsidised prices, granting of loans of up to 50 per cent of the capital, as well as custom exemption for machinery, raw material, loans , exports warranty and preference given to the local product in government procurement," added Dr. Alrabiah.