Al-Hogail approves investment project, industrial city in Dammam

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

Minister of Municipalities and Housing Majed Al-Hogail approved an investment project to develop the infrastructure and services in the industrial roadmap, in addition to the establishment of a 1.5-million-square-meter (sqm) industrial city in Dammam, the 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 distortion treatment, and enhancing 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 sqm of assets.

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