Arab News, Wednesday, Aug 18, 2021 | Muharram 9, 1443
Modon, PIF-owned TBC agreement indicates education and jobs boost for industrial cities
Saudi Arabia:
The Saudi Authority for
Industrial Cities and Technology Zones (MODON) plans to increase educational
facilities and jobs in industrial cities.
MODON has signed a framework agreement for a strategic partnership with Public
Investment Fund (PIF) fully-owned company, and the executing arm of the Ministry
of Educations' projects,
TBC Building Development Company for this matter, Al Eqtisadiah reported.
The agreement stipulates assigning a land investment management affiliated to
MODON to TBC, which has sufficient experience in the field of investment
management for educational facilities throughout the Kingdom.
TBC Building Development Company will manage the investment of the lands
entrusted to it by MODON, under this agreement, by contracting with investors to
establish and operate educational facilities, in accordance with the
architectural and operational standards approved by the Ministry of Education.