This represents a substantial increase from the SR3.34 billion recorded during the same period in 2023.

The Saudi Authority for Industrial Cities and Technology Zones (MODON) reported a rise in the number of constructed factories, which reached 6,683 in Q1 2024 compared to 5,894 in the same period last year.

Additionally, there was a significant surge in logistics contracts, with 367 contracts signed in Q1 2024 compared to 223 in Q1 2023.

Industrial contracts also saw a significant growth, with 276 agreements issued by the end of March, nearly doubling the figures from the first quarter of 2023.

In the first quarter of 2024, Jeddah Third Industrial City led with the most contract issuances at 76 agreements.

Al Kharj Industrial City followed with 47 contracts, and Sudair Industrial and Business City had 20.

Dammam Third Industrial City and Dammam Second Industrial City had 18 and 16 agreements, respectively.

A total of 1,867 regulatory visits were conducted in industrial cities, demonstrating MODON's strict oversight.

Food industries secured the most contracts at 24%, followed by mining at 12%, rubber products industries at 12%, chemicals at 8%, and electrical equipment at 7%.

The text reports that there are currently 1,300 food factories in the Kingdom of Saudi Arabia, demonstrating the country's growth in the food industry sector.

This expansion aligns with the "Food Industry Localization" initiative, which aims to boost productivity, local production, and quality.

MODON, a strategic partner in the upcoming Saudi Food Manufacturing Show, will participate in the event from April 30 to May 2 at Riyadh Front.

The organization plans to showcase its offerings to investors, SMEs, and entrepreneurs at the show, which is under the patronage of the Minister of Industry and Mineral Resources.

The text is about a show organized by MODON, which is in line with the National Industrial Development and Logistics Program's goals of promoting sustainable growth and enhancing value chains.

The event is anticipated to attract 500 international participants, including ministers, officials, industry leaders, CEOs, investors, and experts.

The show will include discussion panels, workshops, and exhibitions, serving as a significant platform for showcasing the latest offerings in the food industry and its related sectors.