Al-Hogail approves investment project, industrial city in Dammam

Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail

Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail approved a 1.5-million-square-meter industrial city project in Dammam to develop infrastructure and services, the Saudi Press Agency (SPA) reported.

Eastern Province Governor Fahad Al Jubeir said the project aims to boost industrial development via private sector partnerships, focusing on infrastructure upgrades, visual improvement, and quality of life, in line with Vision 2030.

Al-Jubeir noted over 436 investment opportunities have been offered, with plans to reach 5,000 by 2026, supported by a database of 116 million square meters of assets.

He urged investors to leverage incentives, including 50-year contracts, up to 10% duration exemptions, and 25% reduced bank guarantees.