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.
An exhibition showcasing a smart city being built as part of the NEOM project in northwestern Saudi Arabia has gone on display in Riyadh. THE LINE development will be constructed using revolutionary architectural designs and urban planning concepts and the exhibition will run until April 29 at the Diriyah Biennale Foundation for Contemporary Art in Riyadh’s Jax district.
Saudi Arabia has announced some companies will be able to operate in the kingdom without having a headquarters in the country. Companies with foreign operations not exceeding 1 million Saudi riyals ($266,000) can operate in the kingdom without local headquarters, it was reported on Sunday. Firms competing for government contracts without any other bidders are also exempt from the rules. The decision follows rules introduced in 2021 which require foreign firms to set up regional headquarters in the country by the end of this year or risk losing out on government contracts.
Saudi Arabia’s NEOM Hotel Development has selected General Hotel Management Ltd. (GHM) as the second hotel partner for TROJENA. The new agreement will see GHM as the managing company for The Chedi TROJENA, which will be a residential village in one of TROJENA’s six distinctive clusters: Gateway, Discover, Valley, Explore, Relax and Fun.
Saudi Arabia has announced six new mining opportunities that will be presented at Future Minerals Forum 2023 (FMF 2023), which is taking place from 10 to 12 January at King Abdulaziz International Conference Centre in Riyadh. The projects come under the accelerated mining exploration initiative, which was launched in January 2022, according to a press statement by the Ministry of Industry and Mineral Resources.
Having already been awarded a Grand Prix, Saudi Arabia want the teams to manufacture cars and train drivers on Saudi soil. This more than ambitious plan has the full backing of the Saudi royal family, which rules the country, and it could potentially take place in 15 to 20 years.
The TONOMUS Venture Studio launched its activities today with the announcement of a new venture competition focused on the metaverse. The Studio is the venture building and venture investing engine of TONOMUS, the first subsidiary of NEOM and a multinational cognitive conglomerate powering the world's first ecosystem of cognitive technologies. The TONOMUS Venture Studio is tasked with building out a portfolio of ventures using Silicon Valley–influenced methodology and guidance. It will also build global talent capability and launch a new generation of entrepreneurs.
A Bauer Group subsidiary has been commissioned with two further construction phases for foundation work on a linear city that forms part of the NEOM megacity development in Saudi Arabia. The US$500bn (£414bn) NEOM project in the Tabuk province is set to become a hi-tech, sustainable city-state. The development is being funded by the Saudi Public Investment Fund owned NEOM Company.
Saudi Arabia issued permits for new non-oil industrial projects worth around 7.17 billion Saudi riyals ($1.9 billion) in November, according to official data. The 82 permits for new projects brought the total number of industrial investments in the world’s largest oil exporter to 10,742 projects capitalised at SAR 1.419 trillion ($378 billion), the figures by the Industry and Mineral Resources Ministry showed.
The mega-plant of NEOM Green Hydrogen Company will combine up to 4GW of solar as well as wind energy to make up to 1.2 Million tonnes of green ammonia. This will translate to up to 600 tonnes each day of carbon-free hydrogen. This comes after the signing of facility agreements by NEOM Green Hydrogen Company with local, regional, and international banks. Also, a commitment letter was executed with SIDF, Saudi Industrial Development Fund.
Engineering Consultants Group (ECG) of Egypt has been awarded a contract to design five Saudi NEOM Construction Villages (NCV) spanning 1,647,000m2. ECG’s scope of work includes design review, data collection, masterplanning, concept design, the basis of design report, design development, detailed design, and IFC (Issued for Construction). Saudi Arabia’s Al Fanar Company is also associated with the project.
Saudi Arabia’s snow season has begun with a freezing winter downfall covering the Al-Lawz region of Tabuk, reported the Saudi Press Agency.
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