Saudi Authority for Industrial Cities and Technology Zones (MODON)
Support-Targeted Segment: Small, medium and large enterprises in order to provide land or ready factory support for new projects or expand/ improve existing projects.
Products and Services for Nusaned Investors: Provide ready factories (Completed units for small and medium enterprises). Provide innovative products including small, multi-floor factories and an online platform for suppliers and others. Provide industrial and service land with solid infrastructure at reduced price. Provide non-financial care services for incubated businesses and provide customized buildings for high value-added investments.
Incentive Package for Investors: The investor will receive special care such as fast-track and post-contract services if necessary. Value-added investors will have the priority for any incentives to be approved later.Grace Period: High value-added projects will be granted a grace period (deferred repayment) of the annual fees up to 24 months for the industrial land product.
Approval period: Applications received from Nusaned can be expedited to be completed within 6 weeks and the property is offered in the available areas.
Reduced Rental Fees: Investors will have a 15% discount on ready factories. Customized products and services: MODON may provide products or services as requested by the investor (customized buildings, infrastructure with special specifications, private power station, etc.) to high value-added companies.
MODON’s Program to attract foreign investments to Saudi Arabia:
Benefits of the agreement:
• Issuance of licenses for the support-targeted segment shall be for a fee less than the basic fees (not more than SAR 2000.)
• No minimum business experience is required from the foreign investor in his own country for access to the Saudi market.
• Only the targeted segment will have a special period for license issuance – no more than 3 hours if all the requirements are met.