By Innovation-sa on August 5, 2019 in News
The phase one construction of Saudi Arabia’s multi-billion dollar independent mega-city NEOM in the north-western region of the country is complete, and the second phase is set to be announced by the end of this year, revealed CEO Nadhmi Al-Nasr while addressing a crowd of over 160 diplomats at NEOM’s first ever beach sports events held at Gayal, the site of NEOM’s first commercial airport.
The first phase focused on economic concept, funding and road map of the development of the giga-project, while the second phase will include detailed plans for NEOM’s sixteen economic sectors and regions. The 26,500-square km mega city, unveiled by Crown Prince Muhammed bin Salman in 2017 will span across the coast of Red Sea and Gulf of Aqaba, spreading across Egypt and Jordan, making it the world’s first private zone to extend across three countries.
Backed by over $500 billion, the special zone will focus on advanced industries and technology, with robots being used for many services and power being generated solely from wind and solar energy. Pursuant to the goals of Vision 2030, the region will attract private and public investments and strive to become the most efficient destination in the world.
Arabian Business