The Saudi Authority for Industrial Cities and Technology Zones (MODON) and JINGDONG Residential property, JD.com’s worldwide facilities investment and monitoring platform, have signed a Memorandum of Understanding (MoU) to collectively develop and operate two million square metres of industrial and logistics tasks across Saudi Arabia.
The contract was signed throughout the 21 st UNIDO General Seminar in Riyadh and witnessed by His Excellency Bandar bin Ibrahim Al-Khorayef, Minister of Sector and Mineral Resources.
The signing was attended by Eng. Majed Rafed Al-Argoubi, CEO of MODON, and Mr. Feng Guo, General Supervisor of JD.com Middle East, mirroring the critical relevance of the cooperation.
MODON, JD.com join on logistics jobs
Under the partnership, JINGDONG Residential or commercial property will certainly bring its experience in establishing, operating, and handling modern commercial and logistics properties, in addition to attracting institutional capital for large realty programs. The campaign aims to boost Saudi Arabia’s logistics and commercial infrastructure and attract worldwide investment to the industry.
The collaboration will focus on essential commercial centers in Riyadh, Jeddah, and Dammam. The first pilot task, located in Jeddah Industrial City, will certainly cover greater than 40, 000 square metres and will certainly mark JINGDONG Residential property’s first Greenfield development in the Kingdom. The website will consist of Grade-A speculative warehousing accredited under BREEAM Quality requirements, integrating sustainable design, clever automation, and built-to-suit solutions.
The Jeddah project is anticipated to satisfy rising need for high-quality logistics and storage space in Saudi Arabia’s western area, offering markets consisting of shopping, FMCG, vehicle, food, and drugs.
Eng. Majed Rafed Al-Argoubi, CEO of MODON, said the partnership sustains Saudi Arabia’s objective of coming to be an international commercial and logistics center: “This cooperation with JINGDONG Home strengthens our initiatives to develop first-rate framework that increases industrial growth, improves regional web content, and enhances private-sector involvement according to the objectives of Vision 2030”
Mr. Feng Guo, General Supervisor of JD.com Center East, included: “Saudi Arabia is a crucial market for JD.com’s worldwide growth. Via this partnership, we will certainly introduce our proficiency in lasting and intelligent logistics framework to support the Kingdom’s growing industrial community.”
Given that its facility in 2001, MODON has supervised the growth of 39 industrial cities throughout Saudi Arabia, taking care of more than 220 million square metres of commercial land and 8, 000 investment agreements.
JINGDONG Residential or commercial property, component of JD.com, manages over 270 facilities tasks around the world and serves as a foundation of the business’s international supply chain ecological community.
Both entities said the collaboration represents a crucial landmark in reinforcing Saudi Arabia’s industrial and logistics landscape, strengthening the Kingdom’s placement as an affordable worldwide investment destination.
