Saturday, June 15
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Projects

Japan and Saudi Arabia Strengthen IT Ties

In an expression of admiration for Saudi Arabia's ambitious digital transformation and mega-project developments, a senior Japanese official signaled Japan's intent to deepen ties with the Kingdom in the information technology sector.Japanese Minister for Digital Transformation Taro Kono highlighted the profound impression left on him by his visit to NEOM, a cornerstone initiative of Saudi Arabia's Vision 2030. Speaking to...

Saudi Arabia’s Neom Initiative Scales Down

Saudi Arabia's grandiose Neom megaproject, valued at a staggering $500 billion and featuring the linear urban development known as 'The Line', is reportedly encountering financial headwinds, according to a recent Business Insider article. For the initial time since its inception in 2017, the kingdom has extended an invitation to potential investors to experience the cutting-edge city from within.Neom embodies a...

Neom Entices Global Financiers with Exclusive Tours

In a strategic move to secure additional funding, Neom, the ambitious urban development in Saudi Arabia, has opened its doors to hundreds of potential investors, providing them with a firsthand glimpse of the city’s progress. This initiative represents a significant step in the country’s efforts to draw in more capital for the high-profile project.During this unprecedented event, guests, including private...

Neom’s Global Pursuit for Investors Reaches China

Saudi Arabia's ambitious Neom megacity initiative recently extended its promotional efforts to China. The Neom delegation embarked on visits to Beijing, Shanghai, and Hong Kong with the aim of attracting Chinese investment into the project.Despite the absence of immediate deal announcements, participants at the events reported that the presentations offered a clearer understanding of the enigmatic development. According to one...

NEOM Wraps Up Global Tour with Finale in Hong Kong

The 'Discover NEOM' global journey reached its final chapter in Hong Kong, marking the end of a series of international engagements. Hosted at the M+ venue within the bustling West Kowloon Cultural District, this concluding event was a collaborative effort with Hong Kong's Belt and Road Office, operating under the Commerce and Economic Development Bureau of the Government of the...

NEOM’s Construction Forum Unites Global Industry Leaders

Bringing together the crème de la crème of the construction world, NEOM, the avant-garde sustainable development in Saudi Arabia's northwest, recently held a pivotal industry forum. This two-day event was a melting pot for over 100 preeminent construction entities, providing a platform to exhibit the construction strides on the ground and to shed light on forthcoming ventures as NEOM escalates...

Saudi Arabia’s Neom: The Pinnacle of Futuristic Urbanization

Saudi Arabia continues to forge ahead with the development of its groundbreaking Neom megacity, a project that embodies the nation's grand aspirations for a futuristic urban life. The construction in Tabuk, at the northern edge of the Red Sea, is moving forward with a significant amount of resources, reportedly moving 'millions of cubic meters of earth and water' weekly.The promotional...

Neom Initiative: Saudi Arabia’s Future Redefined

Keep abreast of the latest updates in engineering, science, and technology with our comprehensive daily briefing, provided from Monday to Saturday.By opting in, you consent to adhere to our usage and policy terms, with the option to withdraw your subscription at any given moment.An update from sources close to the situation, as reported by Bloomberg, indicates a significant shift in...

Saudi Arabia Moderates Vision for ‘The Line’ Megacity

Recent reports highlight that Saudi Arabia has tempered its high-reaching objectives for a state-of-the-art megacity dubbed 'The Line,' grappling with postponements and financial uncertainties that cloud the project's future.Saudi Arabia's Blueprint for the Future'The Line' constitutes a pivotal segment of the expansive 'Neom' initiative. This undertaking aligns with Saudi Arabia's Vision 2030, a strategic framework that aims to wean the...

Neom’s Futuristic Vision Dims: Scale-Back Raises Questions

Saudi Arabia's once grandiose plans for the Neom megacity have been significantly curtailed, with the projected population by 2030 now set at 300,000, a sharp decrease from the previously anticipated 1.5 million. The extensive urban development, touted as The Line, is now expected to see only a 2.4km stretch completed by the target year, calling into question the feasibility of...

Neom’s Visionary Expansion: Hong Kong Showcase

The individual spearheading a flagship initiative central to Saudi Arabia's economic diversification strategy is set to court investors in Hong Kong. This move aims to rally support for an ambitious and forward-looking urban development.Nadhmi Al-Nasr, CEO of Neom—a $500 billion high-tech megacity being constructed on Saudi Arabia's northwestern seaboard—will lead a promotional event scheduled for April 19 at M+, located...

Neom Megacity’s Population Goal Scaled Down

Saudi Arabia has revised its population forecasts for the ambitious Neom megacity project, aiming for a smaller number of residents by the year 2030.Originally, the plan was to have 1.5 million people take up residence in the project's advanced urban center known as 'The Line.' However, a report has indicated that this figure has been adjusted to less than 300,000...

NEOM’s Tech Arm Tonomus Partners with Monstarlab

Tonomus, a subsidiary of NEOM focused on cognitive technology and digital infrastructure, has entered into a collaborative dialogue with Monstarlab, a worldwide digital consulting firm. The goal is to enhance the caliber of professional services in NEOM and throughout Saudi Arabia. This partnership is built on a shared dedication to excellence and innovation, especially at a time when technological advancements...

Saudi Real Estate Flourishes Amidst Vision 2030 Advancements

The real estate domain in Saudi Arabia is experiencing an unprecedented surge, aligned with the nation's ambitious Vision 2030 reforms, which are revolutionizing the economy. A forthcoming comprehensive study, brought forth by Quality Media Press, is set to delve into the massive housing expansion, the rise of colossal projects like NEOM, and the sector's boost from substantial government investments.Launched by...

Qiddiya Unveils Exclusive Dragon Ball Theme Park

The Qiddiya Investment Company (QIC) has made headlines with its announcement of a groundbreaking new attraction for anime aficionados and visitors seeking top-notch entertainment. The Dragon Ball theme park, an unprecedented anime-inspired amusement park, is poised to open its doors within the vibrant Qiddiya City, a mere 40-minute drive from the heart of Riyadh.Encompassing an area exceeding half a million...

Saudi Arabia’s Economic Revolution: AI and Tech Investments

The Saudi Public Investment Fund (PIF) is on a trajectory to amass an astounding $1 trillion by 2025, further cementing its status as a pivotal force in worldwide investments, with a keen focus on groundbreaking technological sectors. Under the stewardship of Crown Prince Mohammed Bin Salman, the PIF ranks as the world's fifth-largest Sovereign Wealth Fund, boasting $926 billion in...

Tadawul All Share Index Sees Uptick in Sunday Trading

The Tadawul All Share Index in Saudi Arabia witnessed an increase on a recent Sunday, climbing by 39.90 points, or 0.27 percent, to conclude the day at 12,762.43. The trading volume for the day on the benchmark index reached SR9.02 billion ($2.4 billion), with 136 stocks experiencing gains and 79 facing declines.A similar upward trend was observed in the parallel...

Korean Entrepreneurs to Boost Trade with Saudi Arabia

The longstanding economic partnership between South Korea and Saudi Arabia, which spans six decades, is now branching out from its core focus on construction and petrochemicals to embrace innovative ventures like smart cities, renewable energy, and advanced transportation solutions.In the wake of President Yoon Suk Yeol's trip to the Saudi capital last fall, the two nations have seen a surge...

Exploring Saudi Arabia’s Future: NEOM City and Investment Prospects

The ambassador of Saudi Arabia to Korea recently addressed a prominent business forum to shed light on NEOM, a transformative city project, and the myriad investment opportunities awaiting in the kingdom, particularly for Korean investors. The event, held in Seoul, aimed to foster connections between Korean enterprises and influential figures from the international business landscape.In an event organized by a...

NEOM Unveils Gidori: A Luxe Golf Haven by the Gulf of Aqaba

The NEOM Board of Directors has recently declared the launch of Gidori, a new private golfing enclave that is poised to redefine luxury living in the heart of northwest Saudi Arabia. Nestled within the stunning hillscapes bordering the Gulf of Aqaba, this secluded community promises an unparalleled lifestyle infused with opulence and recreation. Gidori stands out with its majestic architecture...

NEOM’s TONOMUS Secures Key Tech License for Advanced Digital Services

The Communications, Space and Technology Commission (CST) has recently issued a significant license to TONOMUS, a digital technology firm within the futuristic NEOM project. This Wholesale Infrastructure Services License spans all categories and is set to revolutionize the provision of cutting-edge technologies and sophisticated digital infrastructure in NEOM. The granting of this license signals a strategic move to foster a...

Saudi Arabia Unveils State-of-the-Art Motorsport Racetrack in Qiddiya City

The Qiddiya Investment Company has revealed plans for a new, avant-garde racetrack situated within the environs of Qiddiya City. This circuit is set to redefine the realm of motorsport within Saudi Arabia by positioning itself as a premier global destination for racing aficionados.The circuit, named the Speed Park Track, melds practical design with cutting-edge technology, promising an unparalleled customer journey....

NEOM’s The Line on Track for 2030 Completion

The inaugural segment of Saudi Arabia's visionary urban project, The Line at NEOM, is anticipated to reach completion in the year 2030, as per a top official involved with the initiative.A recently shared progress update video from NEOM features Chief Development Officer Denis Hickey affirming the project's commitment to achieving its bold development milestones.Hickey remarks, The first phase of The...

Saudi Aramco Eyes Extended Bond Maturities and Sustainable Dividends

Executives from Saudi Aramco have indicated the company's readiness to issue extended-term bonds, potentially with maturities of up to 50 years, eyeing a 2024 launch when market conditions are favorable. Ziad Al-Murshed, who oversees new business development at the oil giant, highlighted the company's preference for long-term strategies during the third Saudi Capital Market Forum.Al-Murshed emphasized the goal of smoothing...

NEOM Expands Global Reach with New York Office Launch

In a strategic move to bolster its international presence, NEOM, Saudi Arabia's ambitious $500 billion business and tourism initiative, has inaugurated its first United States office. The new outpost is situated in the bustling business district of Manhattan at 50 Hudson Yards, New York City. The grand opening was graced by the presence of Saudi Arabia's ambassador to the United...

Xaynor Unveiled: A New Haven of Coastal Opulence

The board of directors of NEOM has recently announced the inauguration of Xaynor, an exclusive beachfront members' club, which is a significant addition to the ongoing development in the northwest region of Saudi Arabia. Xaynor is designed to provide a private and serene seafront escape along the untouched shores of the Gulf of Aqaba, promising a blend of luxury and...

Saudi Arabia Unveils Innovative Stadium Design

The Qiddiya Investment Company's board has announced the creation of a state-of-the-art stadium in Qiddiya City, designed by the American firm Populous. Named after Prince Mohammed bin Salman, the venue is to be constructed atop a cliff, offering a panoramic view of the new entertainment hub. Slated to open its doors in 2025, the Prince Mohammed bin Salman Stadium will...

Saudi Arabia Unveils 10 Specialized Cities in NEOM Megaproject

In a bold move to attract global investments and boost economic growth, Saudi Arabia has unveiled plans for ten specialized cities within the NEOM megaproject. These cities are each designed to cater to specific sectors such as energy, biotechnology, media, entertainment, and manufacturing. The strategic development aims to establish Saudi Arabia as a dominant player across various industries while simultaneously...

Saudi Arabia Unveils Vision for Prince Mohammed bin Salman Stadium

In the burgeoning metropolis of Qiddiya near Riyadh, the Qiddiya Investment Company, supported by Saudi Arabian funds, has announced its ambitious project: the Prince Mohammed bin Salman Stadium. This state-of-the-art sports and entertainment facility is set to accommodate 45,000 visitors and aims to become a pivotal venue for the nation's premier cultural and major sporting events. Perched atop a cliff,...

Saudi Arabia Unveils Futuristic Stadium Concept for 2034 World Cup

Saudi Arabia has made headlines by disclosing plans for a state-of-the-art stadium perched atop a 200-meter cliff near the nation's capital, Riyadh. The proposed 45,000-seat arena, featuring a retractable roof and playing field, aims to offer fans a captivating and engaging experience with extensive LED screens enveloping the venue. The stadium, which will bear the name of Prince Mohammed bin...