NEOM News

Saudi Arabia Appoints Ruder Finn as PR Agency for NEOM

Ruder Finn has been hired by Saudi Arabia to handle CSR and sustainability work for Neom, the $500bn megacity that Crown Prince Mohammed bin Salman has planned for the country’s Northwest coast.

Ruder Finn won the one-year, $1.7m contract in a competitive review, and formally started working on the business in late May.  Teneo is among other agencies working on Neom, which is part of the Crown Prince’s Vision 2030 reform program and plan to diversify the Saudi economy.

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Saudis to be given free land in future city of NEOM as compensation

Citizens of Saudi Arabia who are deemed eligible for compensation in the coastal area of the north-west of the kingdom are reportedly to be granted plots of land for free in the future megacity of NEOM.

According to the state-run Saudi Press Agency today, Prince Fahd Bin Sultan – the governor of Tabuk where the futuristic city is being built – laid out the first part of an economic package which aims to improve the living standards of those in the area.

NEOM, which is part of the kingdom’s Vision 2030, is planned to be an eco-friendly and technologically-advanced city which would be open to business and investment from around the world. It has already received $500 billion in economic support from Saudi Arabia’s own Public Investment Fund, and will reportedly extend in its size into neighbouring Egypt and Jordan.

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Why the Saudi PIF’s latest investments support their strategic goals for Vision 2030

Until March 31 the Saudi Public Investment Fund (PIF) announced investments worth between $7 and $8bln

When the going gets tough the tough go shopping is an old saying that we have all used on occasion, especially the fairer sex. Nowhere is that truer than looking at the acquisitions of various sovereign wealth funds (SWF). All have looked at investment opportunities amid the dramatic decline of equity markets and economies due to the coronavirus crisis.

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NEOM as the key partner for the Digital Games Conference

DGC Live is proud to announce NEOM as the key partner for the digital conference as they unveil their plans on playing an integral role in the gaming industry worldwide.

Wayne Borg, Managing Director of the Media, Entertainment, Culture and Fashion sectors at NEOM said, “NEOM wants to be the epicentre of the region’s gaming industry and we have identified the key enablers required to create and foster a flourishing, legacy free environment for the industry in MENA.” He added, “The Digital Gaming Conference provides us with the ideal opportunity to engage directly with leading regional and international gaming companies, and the industry pioneers, to provide everything they need to ensure a sustainable and successful future.”

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Saudi Neom project developers to get compensation over Covid-19

Real estate owners that are involved in Saudi Arabia’s Neom project will be financially compensated by the National Program for Community Development, reported Arab News.

The program, also known as “Tanmia” in Arabic, will compensate owners in Sharma, Qayal, Al-Khuraibah, Al-Asilah, Al-Sur, Bir Fahman, it stated.

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NEOM begins enrollment of local students for IT program in university

The enrollment in the course has begun following the success of the first phase of the "NEOM" Program for Internal Scholarships Ending with Employment that was launched in late January 2020, in cooperation with Fahd Bin Sultan University in Tabuk.

"NEOM" said that the applicants will be able to register and start studying for a bachelor’s degree in specializations that include Artificial Intelligence (AI) and Data Science and Analysis at Fahd Bin Sultan University, with the possibility of students who excel in their studies to be sent on scholarship abroad to complete their last academic year in an American university.

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NEOM launches 1st technical diploma program

NEOM on Tuesday launched its first diploma program, which aims to improve the technical skills of more than 6,000 trainees in the next five years and to localize jobs in different sectors of NEOM. In the first year of the program, 1,000 students will receive training in tourism, hospitality and cybersecurity. Students will receive training in NEOM Academy, which was launched in January.

NEOM Director Nadhmi Al-Nasr said that empowering competent people is one of the objectives of NEOM.

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NEOM, Misk Academy Launch SPARK Program to Empower Entrepreneurship, Innovation in Saudi Arabia

NEOM in cooperation with Misk Academy of Prince Mohammed bin Salman bin Abdulaziz Foundation (Misk) has launched the business skills program ' SPARK', which comes to support and encourage entrepreneurs, who want to develop their ideas to start their businesses, through providing them with needed skills and experience.

The program aims to increase the number of small and medium enterprises that contribute to improving and diversifying production sources in line with Saudi Vision 2030 to raise the percentage of contributing enterprises to the gross domestic product (GDP) and accelerate the economic transformation.

They will also have the opportunity to present their projects to the arbitration committee consisting of representatives from "NEOM", Misk Academy and Small and Medium Enterprises General Authority (Monshaat).

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Simon Ainslie, Chief Operating Officer at NEOM explains the vision

Simon Ainslie is the Chief Operating Officer at NEOM. Here, he explains the inspiring vision for NEOM as an accelerator of human progress paving the way towards the New Future.

Driven by great minds and pioneers in a new space, NEOM is a home for people who dream big and want to be part of building a new model for sustainable living, working and prospering.

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NEOM CEO Nadhmi Al-Nasr at number 21 in CW Power 100 list

Making its debut in this year’s Power 100 list, Saudi Arabia gigaproject NEOM is being head up by chief executive officer Nadhmi Al-Nasr where Phase 1 of the futuristic development was completed in July 2019.

Since the completion of Phase 1 of the Public Investment Fund-backed project, Al-Nasr has ramped up activities across the $500bn development.

NEOM signed investment contracts with two leading national investors in Al-Tamimi Group & SATCO to build and operate a construction village to house 30,000 workers, and then expand the construction village to accommodate 100,000 residents.

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NEOM plans stall due to COVID 19 fears

Saudi Arabia's construction of the £400billion futuristic megacity Neom has been delayed due to plunging oil prices and coronavirus fears hitting the land of billionaire princes.  The futuristic tech-hub was set to be completed in 2025 and be home to one million people, costing an estimated $500billion (£413billion). The complex of Moroccan-style opulent buildings and palaces is planned to include helipads, a marina and a golf course and be lit by a giant artificial moon.  But plummeting oil prices and a coronavirus-led economic slump forced the Saudi government to introduce austerity measures last week, putting Neom's future at risk, the Times reported.

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