JINGDONG Property, JD.com's infrastructure investment and management platform, and the Saudi Authority for Industrial Cities and Technology (MODON), have signed a Memorandum of Understanding (MoU) to partner in developing and operating two million square meters of industrial and logistics projects across MODON's industrial cities.
The new partnership is an important step in JD.com's investment in the Kingdom of Saudi Arabia as the company builds out its businesses in the region.
JINGDONG Property will contribute its experience in developing and managing industrial and logistics assets, along with securing institutional capital for large real estate programs. The partnership is expected to add capacity to Saudi Arabia's industrial and logistics investment landscape.
(Photo: JD Logistics)
In the announcement, JINGDONG Property and MODON said they will focus on developing and managing logistics and industrial assets across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam.
The partnership will also support Saudi Arabia's global competitiveness by acheiving targets outlined in the National Industrial Strategy and Saudi Vision 2030 — which include raising the sector's GDP contribution, enhacing local content, boosting exports, and increasing private-sector participation in infrastructure and superstructure development projects.
The first pilot will land in Jeddah Industrial City with an area of exceeding 40,000 sqm and will be followed by additional developments in the Riyadh region.
Marking JINGDONG Property's first Greenfield Project in Saudi Arabia, the Jeddah project will be developed into modern Grade-A speculative warehousing facilities certified with BREEAM Excellence, delivering sustainable spaces through smart automation and built-to-suit (BTS) solutions.
It is designed to meet the rising demand for high quality, efficient storage and logistics space in the Western Region, especially in the industries of FMCG, e-commerce, automotive, food and pharmaceuticals.
JINGDONG Property and MODON both emphasized that this strategic partnership marks an important step in strengthening the Kingdom's industrial and logistics ecosystem and reinforcing Saudi Arabia's position as a global hub.
The signing ceremony was attended by Industry and Mineral Resources Minister Bandar bin Ibrahim Al‑Khorayef, MODON CEO Majed Rafed Al‑Argoubi and Feng Guo, general manager of JD.com Middle East, highlighting the collaboration's significance.
