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.

Read the full story at Middle East Monitor


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