Modon, PIF-owned TBC agreement indicates education and jobs boost for industrial cities

TBC Building Development Company will manage the investment of the lands entrusted to it by MODON. (Shutterstock)

RIYADH: The Saudi Authority for Industrial Cities and Technology Zones (MODON) plans to increase educational facilities and jobs in industrial cities.
MODON has signed a framework agreement for a strategic partnership with Public Investment Fund (PIF) fully-owned company, and the executing arm of the Ministry of Educations' projects, TBC Building Development Company for this matter, Al Eqtisadiah reported.
The agreement stipulates assigning a land investment management affiliated to MODON to TBC, which has sufficient experience in the field of investment management for educational facilities throughout the Kingdom.
TBC Building Development Company will manage the investment of the lands entrusted to it by MODON, under this agreement, by contracting with investors to establish and operate educational facilities, in accordance with the architectural and operational standards approved by the Ministry of Education.