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 supervised by "MODON" and scattered throughout the regions of the Kingdom.
Sami Al-Hussaini, Director of Marketing and Corporate Communications at "MODON", said that lands developed during 2016, targeted the three sectors under which all the industrial cities in the Kingdom fall; these are cities of the Eastern Sector by 40%, cities of the Central Sector by 26%, and cities of the Western Sector 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 exceed a maximum of 20 days, starting from the date of submission of the application until the receipt of the allocated land", Al-Hussaini said.
It is to be noted that the percentage of developed industrial land during the year 2016, increased by 200% from what was developed during the year 2015, which amounted to 4 million square meters.