Home Construction Saudi Arabia has developed Neom City

Saudi Arabia has developed Neom City

The cost of the NEOM project is $ 500 billion. The Public Projects Fund will fully finance the project. It is expected to attract millions of dollars in foreign projects.

The companies contributing to the NEOM project began in 2017 with 3 largest global consulting firms, McKinsey & Company, Boston Consulting, and Oliver Wyman.
German-German Klaus Kleinfeld was appointed as an advisor to Crown Prince Mohammed bin Salman on the NEOM project in October 2017.
On the third of July 2018, Engineer Nazmi Al-Nasr was appointed as the Executive Director of the NEOM Project.
In January 2019, NEOM was established as a joint-stock company to fully supervise the city’s operational business.
The company is expected to complete the works in the first phase of the city by 2025 and complete the project completed within a period ranging between 30 and 50 years.

Construction work has already started in Neom Bay, which is set to become a tourist attraction attractive to investment, as it contains white beaches and has a moderate climate, and is expected to be completed in 2020. Neom airport has already been completed, and it has been registered as an official Saudi international airport. Its inaugural flight landed in June 2019.

The Saudi government is already hosting events at the Neom city site to gain media and investment interest, such as skydiving as part of the “Extreme Sports Event” event.


Please enter your comment!
Please enter your name here

Most Popular

SNOC begins gas production at Mahani field in Sharjah

Sharjah National Oil Corporation (SNOC) and its partner Italian oil major Eni have pulished the start-up of Mahani-1 gas well, marking the...

India’s Sterling and Wilson wins Acwa’s Egypt solar project

Saudi-based Acwa Power said it has reached an agreement with Sterling and Wilson Solar, a unit of leading Indian construction group Shapoorji...

Al Dahra signs strategic water security agreement with Israel’s Watergen

Abu Dhabi-based Al Dahra Holding Company has signed a strategic partnership agreement with Israeli company, Watergen to create a renewable source of...

ADNOC multi-billion dollar subsea transmission project

The Four groups have submitted binding commercial offers for the planned high-voltage sub-sea transmission project to connect Abu Dhabi National Oil Company’s...