NEOM is again making the rounds in the foreign press, with Investment Minister Khalid Al Falih telling Reuters on the sidelines of the World Investment Conference that the gigaproject is a “generational investment” with an extended timeline that will not be completed in “two, three or five years.”.

Saudi Minister of Finance Mohammed Al-Jadaan reaffirmed that the Kingdom does not have a strategy or project from now until 2030 without having sufficient funding.

Alstom has formalised a five-year Technical Support and Spare Part Supply Agreement (TSSSA) with the Saudi Railway Company (SAR), valued at SAR 300M (£63.5M). This agreement was unveiled during the Saudi Rail Exhibition and is aimed at bolstering the operation of the critical east-west freight corridor, integral to Saudi Arabia’s economic growth.

Saudi Arabia's NEOM gigaproject, a futuristic region being built in the desert, is a "generational investment" with a long timeline, the country's investment minister told Reuters on Monday, adding that foreign investment will pick up pace.

The fortified city, called Al-Natah, was home to at least 500 people who were once nomads but would go on to contruct at least 50 multi-story buildings in 2400 BC, DailyMail.com reported. The 269,000-square-foot settlement was hidden in the desert oasis of Khaybar in the Arabian peninsula that was previously thought to be a barren wasteland dotted with tombs and nomads.

Wonkang Co., Ltd. has made significant strides in expanding its global market presence by visiting key project sites in Saudi Arabia from November 1 to 7. During the trip, the company visited the Riyadh Metro Project and the OXAGON Project at NEOM Port, both integral parts of Saudi Arabia's ambitious development initiatives. The visit aimed to reinforce collaboration with major clients, including Saudi Aramco, a key partner in several ongoing projects.

Set on the private Shaybara Island, Shebara—the fourth resort in Saudi Arabia’s Red Sea project and the first operated by Red Sea Global (RSG)—is now finally open for bookings. The 73-villa LEED-Platinum resort features 38 overwater and 35 beachfront accommodations, including stainless-steel living orbs that shimmer like mirages on the horizon. 

In a significant step forward for Saudi Arabia’s Vision 2030, Diriyah Company has officially commenced construction on seven world-class luxury hotels. The groundbreaking, part of the second edition of the company’s annual “Bashayer – Delivering Our Future” event, underscores the rapid development of Diriyah and neighbouring Wadi Safar into a premier global tourism and lifestyle destination.