Business

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

MODON and Bin Laden Company to build industrial city

By TRENDS Desk
November 21, 2021 10:15 pm
  • The city located in Bahrah, a town  in Makkah province, is a step to empower  the industry and increase the local economic activity in GDP terms by 65 percent
  • MODON was established in 2001 to develop industrial lands with integrated services

The Saudi Authority for Industrial Cities and Technology Zone (MODON), has teamed up with Mohammed Bin Laden Co. to develop an industrial city exceeding 5 million square meters.

The city located in Bahrah, a town  in Makkah province, is a step to empower  the industry and increase the local economic activity in GDP terms by 65 percent, in line with the Saudi Vision 2030, said CEO of MODON, Khalid M. Al-Salem.

MODON was established in 2001 to develop industrial lands with integrated services. It oversees 36 industrial cities that exist or are under development in Saudi Arabia.

Most Read

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

Energy, commodity prices hurt profits of GCC firms

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

3 ways travel drives economic growth while enhancing global connections and sustainability

WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and tourism has recovered and is set to reach new heights.…