Saudi MODON Signs Industrial and Logistics Deals Worth US$2.35 Billion

The Saudi Authority for Industrial Cities and Technology Zones (MODON) announced on Wednesday that it has signed a series of deals worth a combined US$2.35 billion at the sidelines of the Global Industry Summit in Riyadh, aiming to boost Saudi Arabia’s industrial and logistics capacity.

The agreements span a total of 3.3 million square meters and include major infrastructure and logistics initiatives. Among them: a US$1.3 billion contract with private developer Eternal Prosperity to build a private industrial complex in the Third Industrial City of Dammam, covering 1.8 million sq. meters.

In parallel, MODON signed a separate agreement with China-based Jingdong Property to develop 50,000 sq. meters of warehouse space in the Modon Oasis in Jeddah, backed by a US$26.6 million investment.

Beyond warehousing, the deal with Jingdong also includes a memorandum of understanding covering future industrial and logistics projects across several of the Kingdom’s industrial cities. That part of the agreement is estimated at US$1 billion, covering over 1.5 million sq. meters.

The timing of these deals comes as MODON participates in the Global Industry Summit - part of broader efforts under the national industrial strategy aligned with Saudi Vision 2030 to transform the Kingdom into a regional hub for manufacturing and logistics by the end of the decade.

Another landmark announcement comes from earlier this year, when MODON launched what is now the first multi-storey factory in the Arabian Gulf, located in the First Industrial City of Dammam. The factory building rises eight floors and spans over 7,500 sq. meters, offering 78 industrial ready-to-use units ranging from 156 to 251 sq. meters.

This vertical factory concept is designed to meet the needs of entrepreneurs and small to medium-sized enterprises (SMEs), giving them flexible, scalable production space - with sectors in mind such as food, pharmaceuticals, electronics, and even 3D printing.

Officials with MODON said the new multi-storey factory is part of a broader strategy to maximize industrial land use, accelerate startup activity, and support SME growth - seen as key engines of economic growth and job creation in the Kingdom.

With the combination of massive new investments and innovative infrastructure, MODON appears to be doubling down on its ambition to modernize Saudi industry, deepen private-sector participation, and draw global investors - as Riyadh moves closer to meeting its Vision 2030 goals.

Read More: MODON, NCP Launch EOI for Developing Logistics Zone in Dammam 2nd Industrial City