Dammam, November 03, 2024 – The Eastern Region Municipality has officially announced the awarding of a groundbreaking project to develop a fully integrated model industrial city in Dammam. This ambitious initiative will span an impressive 2.4 million square meters and will encompass a comprehensive infrastructure plan designed to support industrial zones throughout the region.
The new industrial city is set to accommodate a diverse range of light industries and manufacturing facilities, alongside essential worker accommodations and a variety of support services. This multifaceted approach not only aims to attract businesses but also seeks to create a vibrant ecosystem that fosters innovation and collaboration within the industrial sector.
This project represents a pivotal advancement for the Eastern Region, poised to catalyze significant economic growth. By optimizing costs and increasing revenues without reliance on government capital, the initiative is designed to alleviate budgetary pressures and enhance private sector involvement in regional development. The project aligns seamlessly with Saudi Arabia’s Vision 2030, aiming to boost industrial production, create job opportunities for local residents, and ultimately elevate the quality of life in the region.
The municipality highlighted its commitment to attracting investment, revealing that it has already offered over 400 permanent and temporary investment opportunities across various cities and governorates in the Eastern Region. Additionally, the municipality has cataloged more than 20,000 investment assets, covering an extensive area of over 116 million square meters, signaling a robust investment landscape ripe for exploration.
Looking ahead, the Eastern Region Municipality aims to provide a total of 5,000 investment opportunities by the end of 2026, with a goal of utilizing more than 90% of its available investment assets. This forward-thinking strategy not only underscores the municipality's dedication to fostering economic growth but also its determination to engage and empower local entrepreneurs and investors.
To facilitate this, the municipality encourages interested investors and entrepreneurs to reach out to the Investment Excellence Center. Detailed information about the diverse investment opportunities can be accessed through the digital platform for investment in Saudi cities, as well as via the Furas application, which is designed to streamline the investment process and connect stakeholders with valuable resources.
The establishment of this industrial city marks a significant step towards achieving the Eastern Region's long-term economic goals and enhancing its status as a vital hub for industry and innovation in Saudi Arabia.