JEDDAH: A total of 52 ready-built factories will be developed in Jeddah through a private sector partnership between the Saudi Authority for Industrial Cities and Technology Zones and Oman’s Osara Corp.
The Saudi organization, known as MODON, signed an agreement with Osara Real Estate Development to construct an industrial park spanning over 45,000 sq. meters in Jeddah’s Second Industrial City.
The project aligns with MODON’s goals of attracting foreign direct investment, fostering strategic partnerships, and supporting the National Industrial Strategy and the Kingdom’s Vision 2030, according to the Saudi Press Agency.
The Kingdom aims to triple its manufacturing gross domestic product by 2030 and raise the value of industrial exports to SR557 billion ($148.34 billion.) The country also aims to raise total investments in the sector to SR1.3 trillion, increase exports of advanced technology products by six times, and generate tens of thousands of high-quality jobs.
The agreement between MODON and the Omani company contributes to empowering entrepreneurs and small and medium-sized enterprises. It represents a significant step toward plans to grant the private sector a larger role in industrial development.
In a statement, MODON highlighted that this agreement coincides with the launch of several innovative services and products aimed at meeting the needs and aspirations of its beneficiaries.
These include a ready-made factory solution that offers access to over 1,500 facilities, as well as the development of the “Motamim” initiative, which allows plants and companies to operate within established sites and receive support for their manufacturing operations.
In 2024, MODON completed several new development projects, including the construction of 20 factories, each spanning 450 sq. meters, and 12 production sites, each covering 900 sq. meters, in the MODON Oasis in Jeddah.
Additionally, 24 facilities, each covering 225 sq. meters, were built in the First Industrial City in Jeddah, along with 20 plants, in the industrial city of Taif.
The developments also included 40 supporting units in the MODON Oasis in Al-Ahsa and 32 ready-made factories with supporting units in the industrial city of Waad Al-Shamal.
The authority emphasized that these projects are in line with its vision to become the preferred destination for investment growth and a leading partner in the industrial and technological ecosystem.
Since its inception in 2001, MODON has developed and managed prominent industrial cities and technology zones in partnership with the public and private sectors.
The total developed land area across 37 industrial cities has grown to over 215 million sq. meters, with the number of industrial establishments reaching about 6,882, making a significant contribution to Saudi Arabia’s economic development.
