Abr Al Mamlaka Real Estate Company has signed an investment agreement with the Saudi Authority for Industrial Cities and Technology Zones (MODON) to develop 86 ready-built factories in Sudair Industrial City.
The project, spanning over 98,000 square meters, aims to support entrepreneurship and strengthen the kingdom's industrial environment, the company said in a statement.
"This project reflects our commitment to achieving Saudi Vision 2030 objectives by supporting entrepreneurs and SMEs, while enhancing innovative industrial infrastructure expansion," an Abr Al Mamlaka spokesperson said.
MODON indicated that the collaboration aligns with its strategy to develop integrated industrial cities meeting both local and international investor needs, contributing to increasing the industrial sector's share of GDP.
The development marks another step in Saudi Arabia's push to diversify its economy through industrial expansion and support for small and medium enterprises, as outlined in its national development strategy.
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