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.


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