NEOM

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...

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...

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...

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...

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 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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

Noha Al-Harthi, the manager for robotics and emerging technologies at NEOM since 2020, is at the forefront of developing state-of-the-art solutions in sectors such as robotics, human-machine interfaces, and computation. Her recent appointment to the NEOM executive committee further solidifies her role in shaping the future of technology within the organization. Al-Harthi leads the charge in NEOM’s public safety department,...

At the helm of tenant attraction for regional investments at Oxagon, NEOM’s burgeoning industrial port city, Ghada Altasan is a driving force behind its industrial manufacturing expansion since the beginning of 2021. Her role involves synergistic efforts with influential entities like the Saudi Industrial Development Fund to roll out strategic programs that cater to the sector's evolving demands. Prior to...

Marriott International has forged a new agreement to introduce its Apartments by Marriott Bonvoy brand to the opulent island retreat of Sindalah, situated on the Red Sea off the northwest coast of Saudi Arabia. Targeting a 2024 opening, Apartments by Marriott Bonvoy will offer guests premium and luxurious apartment-style lodgings. The accommodations will range from studio apartments to spacious one,...

In an announcement that signals continued ambition for Saudi Arabia's special economic zone, Neom's leadership has unveiled a new, audacious project called Aquellum. This development is planned to be seamlessly integrated along the Gulf of Aqaba's coastline, nestled within a towering 450-meter mountain range. Its entrance will be ingeniously hidden, with access provided by an underground canal. Aquellum is conceived...

In the heart of Saudi Arabia, the ambitious NEOM project, valued at $500 billion, has recently revealed its latest high-end offering, the Aquellum mountain resort. Touted as a captivating retreat nestled within a towering 450-meter-high mountain range, Aquellum is set to redefine luxury with its unique approach to guest experiences. Visitors yearning for exclusivity will be intrigued by the world's...

The grand vision for a luxurious mountain retreat, named Aquellum, was recently revealed by the team behind the ambitious NEOM megacity in the northwest of Saudi Arabia. This exclusive visitor complex is the newest venture within the extensive regional development project that spans multiple billions of dollars. NEOM's announcement highlighted the unique blend of state-of-the-art technology, groundbreaking architecture, and innovative...