November 26, 2025 – Riyadh – The Saudi Authority for Industrial Cities and Technology Zones (MODON) and JINGDONG Property, JD.com’s infrastructure investment and management platform, signed a Memorandum of Understanding (MoU) at the UNIDO General Conference (UNIDO GC21) in Riyadh 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.

The signing ceremony was attended by H.E. Mr. Bandar bin Ibrahim Al-Khorayef, Minister of Industry and Mineral Resources, Eng. Majed Rafed Al-Argoubi, CEO of MODON, and Mr. Feng Guo, General Manager of JD.com Middle East, underscoring the strategic importance of the collaboration.

JINGDONG Property will bring its strong expertise in developing, operating, and managing industrial and logistics assets, as well as attracting institutional capital for large-scale real estate programs. This partnership demonstrates the company’s ability to deliver high-quality projects and strengthen the Kingdom’s industrial and logistics investment environment.

JINGDONG Property and MODON will focus on developing and managing logistics and industrial assets across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam. The partnership between JINGDONG Property and MODON supports Saudi Arabia’s global competitiveness by acheiving targets outlined in the National Industrial Strategy and Saudi Vision 2030. These targets 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.

About MODON

Since its establishment in 2001, Modon has been undertaking the development and supervision of industrial lands and integrated infrastructure. Today, it oversees 39 existing and under development industrial cities across the Kingdom, in addition to private industrial cities and complexes. Modon succeeded in raising the area of developed industrial lands until now nearly 220 million m² . These cities manage 8000 industrial and investment contracts and more than 4000 factories between producer, existing and under construction and establishment.

About JINGDONG Property, Inc.

JINGDONG Property, Inc., also known as JD Property, is a leading and rapidly growing modern infrastructure investment and asset management platform of JD.com, Inc. Its business includes investment, development and asset management of logistics parks, business parks, data centers and others. As the cornerstone of JD.com’s supply chain ecosystem, JINGDONG Property is equipped with deep insights into merchandise and logistics flows and has a unique ability to integrate business resources. Leveraging our core competencies across infrastructure assets, development expertise, service capabilities and actionable insights, we provide bespoke, holistic and intelligent infrastructure. As of September 30, JINGDONG Property manages more than 270 infrastructure projects in China and worldwide.

(yuchuan.wang@jd.com)