We like to keep up with news and events in NEOM, Saudi Arabia and the surrounding area. Here are some of the news sites we read regularly.
Korean companies may not be able to enjoy the benefits they have anticipated from Saudi Arabia’s NEOM project, as the Middle Eastern country appears to be scaling down the urban development project amid its prolonged financial difficulties, according to industry officials, today.
The Board of Directors of NEOM has today revealed the development of Magna, its luxury lifestyle coastal destination. Part of NEOM’s regional sustainable tourism portfolio, Magna is situated on the stunning Gulf of Aqaba coastline and comprises the recently announced premier destinations of Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, Treyam and Jaumur.
Webuild Saudi Arabia has awarded a SAR 33 million contract to International Water Distribution Company (Tawzea), a portfolio company of Sustainable Infrastructure Holding Company (SISCO Holding).
Hyundai Engineering & Construction (Hyundai E&C) has won a $145m (Won190.48bn) contract from the Saudi Electricity Company to build the NEOM-Yanbu 525kV high-voltage direct current (HVDC) transmission line project. The 605km-long line will run from the Yanbu region, a power production hub on the west coast of Saudi Arabia, to the new city of NEOM. Hyundai E&C secured a turnkey contract for its design, procurement and construction.
The Tunisian Ministry of Industry, Energy and Mines has signed a memorandum of understanding with Saudi developer ACWA Power for a multi-gigawatt green hydrogen project geared towards EU exports.
After introducing its highly futuristic NEOM plans, Saudi Arabia has shifted its sights towards the aquatic tourism sector, Gulf News reported. The Kingdom has unveiled plans to launch the world's first Arabian cruise line, AROYA Cruises. AROYA cruises aim to celebrate the cultural heritage and the natural wonders of Saudi Arabia.
Saudi Arabia and Jordan discussed last week efforts to activate the opportunities available north of NEOM project, from the Jordanian side. Jordan’s side of the border boasts ports and ready infrastructure that could be used immediately for projects that serve both countries and boost Saudi Arabia’s Vision 2030 and the region.
Saudi Arabia is pushing forward to become a global leader in both producing and using hydrogen as a clean energy source. By 2026, it plans to finish building the world’s biggest green hydrogen plant in the NEOM region. This move underscores the Kingdom’s commitment to renewable energy and sustainability.
After the revealing of Epicon, Leyja and Siranna, NEOM unveiled Utamo which is an immersive destination in making to redefine the landscape of art and entertainment in Saudi Arabia, according to Fact Magazine. Also being called as the theatre of the future, Utamo is going to offer a mix of natural beauty along with cutting-edge technology located within a mountain along the scenic Gulf of Aqaba coastline.
NEOM is going to have another billion-dollar mega structure by the name of Xaynor. NEOM’s Xaynor is a tourism project in the futuristic mega city. It has been described as "a beachfront private members club, nestled among the rocky landscapes along the pristine coastline of the Gulf of Aqaba," according to Al Arabiya English.
Saudi Arabia's Public Investment Fund (PIF)on Monday launched the Neo Space Group to work on the kingdom's nascent satellite and space industry, its first investment in the sector.
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