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.
A quick link to the latest 6 articles for each of the most popular subjects
Ongoing construction, new projects and updates about existing projects
Beach games, e-sports, formula-E, sim gaming & Winter Games
The latest news about the green and sustainability initiatives at NEOM
NEOM will launch an exhibition that showcases the revolutionary designs of the city of the future, "THE LINE", starting from Monday in Jeddah. The exhibition which will be open to the public for free includes detailed designs, and architectural and engineering presentations of the city.
Saudi Arabia's Crown Prince Mohammed bin Salman’s grand $500 billion project will become home to nine million people in a utopian world where humans, robots, and AI co-exist. NEOM looks as futuristic and science-fictiony as one could imagine: the 26,500-kilometre square site will stretch 460km along the coast of the Red Sea in the Tabuk Province of Saudi Arabia.
Imagine living in a vertical metropolis with no cars and a temperate climate, housed in twin high-rises more than 100 miles long, with hanging gardens and stunning views. In this Shangri-La, there’s no traffic or pollution, just green space, amenities and high-speed mass transit.
At the same time as Saudi Crown Prince Mohammed Bin Salman's visit to France, the Kingdom of Saudi Arabia has just publicly released a new video showing the urbanist ambition of its futuristic megapolis NEOM, currently under development.
Saudi Arabia and Greece signed an agreement to deepen ties in the area of green hydrogen and clean energy on the sidelines of the official visit of Crown Prince Mohammed bin Salman ahead of the Saudi-Greek Investment Forum.
Saudi Arabia will set aside 300 billion riyals ($80 billion) for an investment fund tied to the crown prince’s flagship megaproject, NEOM, and plans an initial public offering of the project on the kingdom’s stock market as soon as 2024.
As NEOM’s THE LINE designs have been revealed, the focus is now shifting to funding the development. The project’s masterminds are already aware of the challenges and what is needed to bring in investors and a possible stock market flotation has been earmarked for 2024.
Crown Prince Mohammed bin Salman said on Monday his $500 billion flagship project NEOM, a huge economic zone eventually meant to house nine million people, will be partly financed through a flotation expected in 2024. The city's first phase is set to cost 1.2 trillion riyals ($319 billion), half of which will come from the kingdom's sovereign wealth fund, the Public Investment Fund, he said.
Saudi Arabia's flagship business zone NEOM participated in Series B fund funding round of ZeroAvia, a US-UK start-up developing hydrogen-electric, zero-emission aviation technologies.
NEOM joined Barclays Sustainable Impact Capital, AENU, and International Airlines Group (IAG) to invest $30 million in ZeroAvia to bring its Series B fund raising round to $68 million, the company said in a press statement.
A construction boom in the Middle East is coming as oil-producing countries aim to build facilities and plants that help them go carbon neutral and Korean companies are leading the charge.
HanmiGlobal, a construction project management company, won a 2.6 billion won ($1.98 million) deal to manage a part of the NEOM City construction. The company will manage overall construction of THE LINE area of the city, a residential area. More contracts are up for grabs, and Hyundai Motor and its subsidiaries is another a big contender.
Saudi Arabia is planning to build two parallel, mirrored buildings that are nearly 500 metres tall and 120km long as part of its NEOM desert megacity, according to a report published on Saturday.
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