A source close to the project has confirmed that NEOM will issue the request for proposals (RFP) for a PPP contract to develop the second wave of its deal to accommodate the project’s growing workforce.  Reported to total around $8bn, this second phase will comprise 20 villages, each containing about 10,000 accommodation units. According to NEOM, the agreement will be delivered under a design, build, finance, operate and maintain framework.

The companies providing the investment for the first phase are: Alfanar Global Development; Almutlaq Real Estate Investment Company (AREIC); Nesma Holding; and Tamasuk involved via two separate partners - Al Majal Al Arabi Group Company and the Saudi Arabian Trading and Construction Company (SATCO).

UK-headquartered consultancy Deloitte and US firm Aecom are advising on the transactions.

Read the full story at Partnerships Bulletin