Riyadh – Sharikat Mubasher: The Saudi Authority for Industrial Cities and Technology Zones (MODON), announced signing an investment contract worth SAR 129 million with AlDyar AlArabiya for real estate development.

The contract was signed by Majed Al-Argoubi, CEO of MODON and Naif Alatawi CEO of Aldyar Alarabiya, according to the MODON’s announcement on X.com.

The contract aims to allocate over 100,000 sq meters in MODON Oasis in Jeddah to develop 90 factories ready for production upon the highest standards to address the increasing demand of the private sector.

MODON added that this partnership eyes achieving the industrial strategic objectives of Vision 2030, facilitating entrepreneurship, and enhancing the quality of the investment environment.