Monday 18 February 2019

Modon’s contribution to Saudi GDP to reach $37bn by 2020

RIYADH, April 10, 2017

Saudi Industrial Property Authority (Modon) has revealed that its contribution to Saudi Arabia’s gross domestic product (GDP) through  investments in the industrial cities is expected to rise from SR104 billion ($27.2 billion) to more than SR140 billion ($37.3 billion) by 2020, said a report.

Modon said over 100,000 Saudi nationals work in 35 industrial cities established by the company, Sami Al-Hussaini, marketing and corporate communications director at Modon, was quoted as saying in a Saudi Gazette report.

The number of Saudis working in these cities is expected to rise to about 140,000 by 2020, it added.

Al-Hussaini further noted that the total area of the industrial cities reached more than 190 million sq m by the end of 2016.

Modon signed more than 6,000 industrial, service and logistical contracts during the period.

He added that the company has focused on the quality industries with added value within the National Transformation Program 2020 to achieve sustainable development within its role as an enabler to the industrial sector.

Tags: Saudi Arabia | | GDP | 2020 | Modon |

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