The Saudi Authority for Industrial Cities and Technology Zones "Modon" launched its new product "Small Industrial Lands" with varying areas between 1700 m² to 3000 m² in order to support entrepreneurs and small and medium enterprises in the industrial cities.

Engineer Khalid bin Muhammad Al-Salem, CEO of MODON, revealed that the product of industrial lands with small areas is the result of continuous studies of the requirements and needs of the partners of entrepreneurs and small, medium and micro enterprises, where the best local, regional and international standards were taken into account to attract and localize value-added investments. In order to achieve the initiatives entrusted to “MODON” in the National Industrial Development and Logistics Program “NADLP”.

He explained that the new product was ready in many industrial cities with a total of 114 plots of land with varied areas starting from 1,700 m², including: Jeddah Second Industrial City, Jeddah Third Industrial City, Al-Kharj Industrial City, and Dammam Third Industrial City.

He pointed out that MODON's strategy to empower the industry and contribute to increasing local content seeks to enhance the role of entrepreneurship and small and medium enterprises in the gross domestic product to 35% in accordance with the Kingdom's Vision 2030, and the objectives of diversifying the national economy and even achieving sustainable development.

He stated that the product of industrial lands with small areas comes as an extension of the continuous efforts made by MODON to advance the developmental role of entrepreneurs and small and medium enterprises in the industrial sector, as it contributes, with its partners in the public and private sectors, to providing many innovative products and services in its industrial cities, including: “Ready-made factories” with areas between “700 m² and 1500 m²” targeting clean and light industries such as food and medical products, and electrical and electronic industries, and “Modon” is working on a product for small factories that would provide new areas starting from 200 m².

Al-Salem said that MODON, in cooperation with its partners from the leading government agencies, also provides many services and financing solutions that help entrepreneurs and small and medium enterprises to start their own projects, and find new job opportunities, with ease and ease and at the lowest possible cost, including a product: Land and loan, which allows the investor to obtain industrial land and financing support, and a “factory and loan” product to obtain a ready-made factory and financial support in one package in partnership with the Saudi Industrial Development Fund, as well as the “Osos” product, which enables the investor to obtain a ready-made factory and financing from a bank Social development amounts to 4 million riyals, accompanied by a set of non-financial incentives.

It is worth noting that MODON also provides, within its products, industrial lands with developed infrastructure and services, such as electricity, water, and others, with different areas in all regions of the Kingdom that meet the needs of industrial investors, which witnessed a high investment demand during the year ending 2020 with a rate of 21%.

Since its inception in 2001, MODON has been interested in developing integrated industrial lands. Today, it oversees 36 existing and under development industrial cities in various regions of the Kingdom, in addition to supervising private industrial parks and cities. The existing industrial cities include more than 4,000 factories between producer and existing. Under construction and establishment.