Al-Omran signs 20-year land lease agreement with MODON

13/04/2023 Argaam

Al-Omran signs 20-year land lease agreement with MODON

Logo of Al-Omran Industrial Trading Co.

Al-Omran Industrial Trading Co. concluded on April 12 a 20-year land lease agreement with the Saudi Authority for Industrial Cities and Technology Zones (MODON).

 

In a statement to Tadawul, Al-Omran said the annual rent stands at SAR 112,549 over 20 years, in addition to an allocation amount of SAR 28,137 on a monthly basis until the start of production or the completion of a 24-month period from the agreement date, whichever is earlier.

 

The land is located in the industrial zone of Sudair City for Industry and Business on an area of 56,274 square meters.

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