With its five unique regions, the mega developmental project has attracted attention from all around the world with its promises of sustainability and innovation. It is envisioned as a state-of-the-art city with aspirations to become a global hub for innovative discoveries and a model of sustainable living.
Neom’s unmatched liveability and economic prospects will power the Kingdom’s future economy. And, that economy will pioneer the future of key sectors such as energy, food, media, water, mobility, tourism, sport, education and more.
Highlights about Neom, a futuristic desert city
Below are some salient features of Neom, the ‘futuristic’ desert metropolis in Saudi Arabia:
Neom is located on the Red Sea coast in the northwest of Saudi Arabia, near the borders with Jordan and Egypt.
A technologically sophisticated metropolis and economic zone, Neom is intended to diversify Saudi Arabia’s economy away from its reliance on oil.
With a total area of over 26,500 square kilometres, it is one of the biggest and most ambitious development projects in the world.
The ‘Public Investment Fund’, Saudi Arabia’s sovereign wealth fund, has provided approximately $500 billion to support the project.
‘The Line’ is a major project within Neom, envisioned as a car-free linear metropolis of 170km in length and 200m in width.
A major element of Saudi Arabia’s Vision 2030 plan is Neom, which aims to lessen the nation’s dependency on oil earnings. It aims at fostering the growth of other industries, including technology, tourism and entertainment.
The project has the potential to grow into a major international hub for commerce and innovation. It has an advantageous location at the meeting point of three continents.
Numerous multinational corporations from the west as well as other foreign businesses have expressed interest in partnering with and investing in Neom.
What is Saudi Vision 2030?
Saudi Arabia’s Vision 2030 sets out an ambitious economic development roadmap that seeks to develop the Kingdom into a global investment powerhouse.
The nation holds strong investment capabilities, which will be harnessed to diversify revenue streams. The vision aims to attract foreign investment, stimulate economic growth, create the jobs needed to employ the Kingdom’s rapidly growing labor force and develop a more resilient economy.
The Kingdom has unveiled a number of mega projects to help transform its economy, including Neom. Neom is the brainchild and vision of Crown Prince Mohammed Bin Salman and is a centerpiece of Saudi Arabia’s Vision 2030, positioning the country as a key player in global development.
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