Riyadh: The Saudi Authority for Industrial Cities and Technology Zones (MODON) announced Friday that it secured SAR24 billion in new domestic and foreign investments in 2024, a 38% rise from the previous year. The latest figures bring the total investment across MODON's 39 industrial cities to SAR440 billion.
According to Saudi Press Agency, the authority also reported a 9% increase in operational industrial, logistics, investment, and data center facilities, reaching a total of 8,616. MODON stated that its expansion, which supports efforts to strengthen local production and boost national exports, helped drive a 10% rise in employment within these zones, totaling 593,000 jobs.
The authority added that it has expanded developed land in its industrial cities by 7% to 219.5 million square meters, with 80 projects completed-achieving a 100% delivery rate compared to 2023. MODON stated it has fully met its commitments under Saudi Arabia's Vision 2030 economic plan, achieving a 100% completion rate as confirmed by the National Center for Performance Measurement of Public Agencies (Adaa).
The achievement demonstrates the authority's focus on sustainable development and economic growth, with a total of 32 strategic initiatives worth SAR16.3 billion implemented. The authority further clarified that it exceeded annual growth targets by securing more than 870 new industrial, logistics, and investment contracts. It attributed the success to ready-made product projects, land allocation, effective investor communication, and tailored investor solutions.
Last year, MODON launched the Jeddah Food Cluster, recognized by Guinness World Records as the largest of its kind globally. The authority received 36 local, regional, and international awards in 2024, including the King Abdulaziz Quality Award, the kingdom's top honor for institutional excellence and a key driver of progress in the country.