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.
So no flying taxis then. Let's hope the robot dinosaurs make it though.
The dream of flying taxis just hit a big roadblock. Volocopter, a German company making electric air taxis, has gone bankrupt. Over 10 years, the company raised $544 million from investors like Saudi Crown Prince Mohammed bin Salman, Mercedes-Benz and Intel. However, the company struggled to secure the additional funding needed to stay operational and filed for bankruptcy.
Research into new types of concrete, such as those that combine plastics, fine sand, seawater, and construction waste, has been announced by a team headed by Saudi Arabian developer NEOM. The NovusCrete consortium will search for methods to lessen concrete's negative effects on the environment while simultaneously lowering costs, extending its lifespan, and making recycling it easier.
THE LINE is set to begin vertical construction by the end of 2025, marking a crucial phase in the development of the NEOM mega-project, news outlet NEMNNA reported on January 29.
Updates have been provided on the four main projects that make up the Saudi Arabian gigaproject NEOM with executives revealing they are all underway, but that flagship linear city the Line will take around 100 years to complete and populate.
NEOM has announced the successful closing of a landmark export credit agency (ECA) financing transaction, with Italy’s SACE, securing approximately USD 3 billion under a long-term multicurrency untied facility. The deal, which marks NEOM's first corporate ECA financing and the largest untied financing ever guaranteed by SACE, will support various projects across NEOM and is backed by a syndicate of nine prominent international banks – HSBC, Banco Bilbao Vizcaya Argentaria, Bank of China, Crédit Agricole CIB, Agricultural Bank of China, Citi, China Construction Bank, J.P. Morgan and Bank of America.
Thanks to His Royal Highness Crown Prince Mohammed bin Salman’s Saudi Vision 2030, which aims to put the country on the tourism map, the kingdom is home to some of the region’s most impressive developments and Saudi Arabian megaprojects are creating blockbuster headlines.
Tucked within Saudi Arabia’s Hejaz mountains, the Desert Rock Resort is a new eco-tourism development crafted by the Global Oppenheim Architecture practice, which worked closely with the Saudi developer Red Sea Global (RSG) as part of the Kingdom’s Red Sea Project. In homage to the ancient Nabataean civilization, the architecture of the resort sinks into its rugged surrounding, almost camouflaged, nurturing a timeless appreciation for nature.
Dennis Hickey, Chief Development Officer of NEOM, provided a detailed update on the progress of the Saudi mega-project during a presentation at NEOM House in Davos, Switzerland. Particular attention was given to THE LINE, a 170-km-long, 500-m-high linear city designed to redefine urban living.
NEOM and the National Technology Development Program have launched a strategic partnership to advance the growth of the Web3 ecosystem in Saudi Arabia. Leveraging their combined strengths and resources, the collaboration will establish comprehensive accelerator programs designed to support selected startups with mentorship, funding opportunities and vital industry connections.
FIFA’s announcement last month that Saudi Arabia would host the 2034 World Cup may not have come as a surprise, as it became the sole contender after Australia pulled out of the race two years ago. But there were cheers all round in the kingdom, which sees the beautiful game strengthening its goal of becoming a global powerhouse. Saudia, the country’s flag carrier, celebrated by treating passengers on board more than 30 flights to special surprises as pilots shared the exciting news up in the air.
NEOM and the National Information Technology Development Program (NTDP) have announced a strategic partnership to foster the growth of the Web3 ecosystem in Saudi Arabia. The collaboration includes launching comprehensive accelerator programs to support qualified startups, leveraging the expertise and resources of both organizations.
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