MODON develops 8m sqm of industrial lands in 2016

MODON develops 8m sqm of industrial lands in 2016

Sami Al-Hussaini
Sami Al-Hussaini

RIYADH —  Saudi Industrial Property Authority (MODON)  has developed 8 million m² of industrial lands over the past year 2016, bringing the total lands developed until the end of 2016, to more than 190 million m² in all the 35 industrial cities it supervised and distributed throughout the regions of the Kingdom.

 MODONSami 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 fall —  these are cities of the Eastern region by 40%, cities of the Central region by 26%, and cities of the Western region by 34%.

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% in 2016 from what was developed in 2015, which amounted to 4 million square meters.