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FINANCIAL NEWS
Land for Modon’s new city allocated
02 Jun 2011
(MENAFN) Adnan Mandoura, secretary general of the Jeddah Chamber of Commerce and Industry (JCCI ), said that the Jeddah Mayoralty dedicated has allocated a 25 million square meters land for a project for the development of a new industrial city to be run by Saudi Industrial Property Authority (Modon), reported Arab News.
Mandoura said that the new city would lead to a thirty percent growth in Saudi industries as it would create an adequate location and infrastructure for a large number of new factories.
The secretary general elaborated saying that the city would mainly host factories specialized in the information and telecommunication sectors, with the capacity of hosting around four hundred factories.
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