Neom, an urban development initiative launched by Saudi Crown Prince Mohammed bin Salman in 2017, is a colossal project situated in the northwestern Tabuk Province of Saudi Arabia. Spanning an extensive planned area of 26,500 km2, the city aims to feature diverse regions, including a floating industrial complex, global trade hub, tourist resorts, and a linear city powered by renewable energy sources.
The project, with an estimated cost exceeding $500 billion, is being executed through a closed joint-stock company, Neom, established by the Saudi government in 2019 and wholly owned by the Public Investment Fund. Developers aim to see the majority of Neom completed by 2039.
The city signed a significant partnership with Mercedes-EQ Formula E Team in March 2020 and later took on the title sponsorship of McLaren Racing's electric motorsport division, renaming McLaren's Formula E and Extreme E divisions as NEOM McLaren Formula E Team and NEOM McLaren Extreme E Team. Notably, at the 2023 London ePrix, NEOM and McLaren collaborated on the world's first AI-designed motorsport livery.
NEOM has also collaborated with Air Products & Chemicals, Inc. In July 2020, the announcement of the world's largest green hydrogen plant in Saudi Arabia marked a pivotal milestone, with NEOM playing a key role alongside Air Products & Chemicals, Inc. and Saudi Arabia's ACWA Power in the US$5 billion project.
NEOM also entered into a four-year sponsorship agreement with the Asian Football Confederation, and its proactive approach to sustainable energy projects, such as awarding the construction contract for a substantial solar power generation plant and wind-power farm. The city's international footprint expanded with the opening of offices in London in November 2023 and New York in February 2024.
The NEOM Project was unveiled by Crown Prince Mohammed bin Salman at the Future Investment Initiative conference in Riyadh on October 24, 2017. Bin Salman outlined a bold vision for NEOM, envisioning it as a city that would operate independently from the existing governmental framework. This independence extends to the establishment of its own tax and labor laws, along with the implementation of an autonomous judicial system. The ambitious plans for NEOM are integral to Saudi Vision 2030, a comprehensive strategy aimed at diversifying the nation's economy and reducing reliance on oil.
Klaus Kleinfeld assumed a pivotal role as the inaugural director of the NEOM project, bringing his expertise to the forefront. The announcement of Kleinfeld's appointment was accompanied by strategic moves, including the engagement of Gladstone Place Partners LLC in 2018 to handle communications services for NEOM. This marked a crucial step in shaping the narrative and communication strategies for the project, underscoring its significance on the global stage.
The collaborative nature of NEOM extended beyond national borders, as Egypt announced its contribution of land to the project in 2018. The commitment from regional allies highlights the international appeal and collaborative spirit behind NEOM. With a focus on reducing dependence on oil, the city's plans are futuristic, encompassing the integration of robotics for functions such as security, logistics, home delivery, and caregiving. Furthermore, NEOM aims to be a trailblazer in sustainable practices, intending to be powered solely by wind and solar energy.
The phased development of NEOM is set to unfold, with the first phase scheduled for completion by 2025. Tourists are anticipated to visit the city by 2024, marking a significant milestone in the realization of this groundbreaking project. To fuel the development of key components like Sindalah Island, earmarked as a luxury tourism development, NEOM is strategically raising funds from local banks, signaling a commitment to bringing its bold vision to life.
NEOM, under the leadership of Nadhmi Al-Nasr as the Chief Executive Officer, stands guided by a diverse and accomplished team of executives steering the city's multifaceted development. Rayan Fayez, serving as the Deputy CEO, contributes to the strategic direction and operational efficiency of NEOM. Jassir Al-Jassir takes on the pivotal role of Chief Governance, Risk, and Compliance Officer.
Dr Manar Al Moneef leads as the Chief Investment Officer, orchestrating NEOM's financial strategies, while Dr Mahmoud Alyamani spearheads the Health, Well-Being, and Biotech sector. Wayne Borg assumes the role of Managing Director for Media Industries, Entertainment & Culture. The other leaders of the project also include Joseph Bradley, the TONOMUS CEO, and Dr Richard Bush, who serves as the Chief Environment Officer.
Jason Davies is the Chief Internal Audit Officer, Niall Gibbons is the Head of Tourism, Denis Hickey is the Chief Development Officer for THE LINE, Michael Lynch heads the Entertainment & Culture sector, Dr Paul Marshall is the Head of Nature Region, and Majid Mufti is the NEOM Investment Fund Managing Director. Jan Paterson is the Head of Sports, Roberto Penno is the Chief Projects Officer, and Stefan Ricketts, in his role as Chief Legal Officer, ensures legal compliance and integrity in NEOM's operations.
The executive leadership team also includes Peter Terium, serving as ENOWA CEO, and Dirk Vanschependom, the Chief Financial Officer. Vishal Wanchoo, as OXAGON CEO, brings his expertise to advance NEOM's technological initiatives.
A futuristic city and economic zone planned for the northwest corner of the country, NEOM envisions itself to be a hub for innovation, technology, and sustainable living.
NEOM is strategically planning to allocate 6,500 hectares (16,000 acres) of the surrounding land for agricultural fields, with a significant emphasis on utilising genetically engineered crops. In the realm of utilities, the project has established ENOWA as a subsidiary, dedicated to delivering essential services such as renewable energy, green hydrogen production, and advanced zero waste desalination processes.
The following regions will come under the NEOM zone project.
Sindalah
Sindalah will be a new year-round destination in the NEOM city project and will be the first region to be opened under NEOM. It will be a luxury island with enhanced nature, responsible design, advanced technology and inspirational architecture. It will be offering a beach club, a yacht club, a spa, a marina, luxury hotels and a rich marine life in the Red Sea, amongst other things.
The Line
The Line will be a linear city that aims to be a model for future urban living. It is designed with a focus on sustainability and technology with no roads, cars or emissions. Planned to-run on 100% renewable energy and 95% of land to be preserved for nature, people's health and wellbeing will be prioritised over transportation and infrastructure, unlike traditional cities.
‘The Line’ will eventually accommodate 9 million people surrounded by nature and an ideal climate all-year round, as well as have access to all daily essentials within a five-minute walk. For public transport, a high-speed rail – with an end-to-end transit of only 20 minutes is being built.
Trojena
Trojena, part of NEOM’s regional plan, is located 50km from the Gulf of Aqaba coast. It will be an iconic, world-class destination, blending natural and developed landscapes, and offering unique human-centric experiences. Elevated from 1,500m to 2,600m, Trojena will offer alpine and adventure sports with its temperatures ranging between cool to sub-zero winter. With its clear fresh air and panoramic views, Trojena will not only be a mesmerising place to visit, but also the perfect place to live and work.
Oxagon
Oxagon region is being built with an aim to offer an advanced and clean industrial ecosystem, accelerating approaches of Industry 4.0 and the principles of circularity. Redefining the traditional industrial city, Oxagon is positioned to promote greenfield opportunities which puts people, innovation, and sustainability at its core. It will offer an ecosystem that pioneers new technologies; and enhance connectivity through state-of-the-art ports, supply chain and logistics.
Leyja
Leyja builds on NEOM’s commitment to becoming a multi-faceted destination. It supports the Saudi kingdom’s efforts to build a strong tourism industry under Saudi Vision 2030. As a luxury eco-tourism location, Leyja will be providing opportunities for visitors to immerse themselves within the incredible natural landscapes of the region. The region will start from the Gulf of Aqaba coast and its alluring waters in the west, then wind inland to form a magnificent natural valley carved between 400m-high mountains. Leyja will be steeped in history and mythology, alongside encouraging enthralling hiking, biking and climbing trails set in the valley’s dramatic mountain landscapes.
Epicon
Rising from NEOM’s desert landscape, Epicon is a property development featuring two striking 225m+ tall towers. The towers, like a glistening mirage, will be home to an ultra-premium 41 key hotel and luxury residences. Epicon aims to set a new standard of hospitality and architecture. Designed as a gateway to the future, Epicon provides an opportunity to escape the stresses of the everyday. Whether relaxing at the beach club, visiting the spa for bespoke wellness treatments, exploring the surrounding nature, participating in many water sports on offer, or dining at destination restaurants for an unforgettable culinary experience, Epicon has been conceived to meet the full array of guest and resident needs.
Siranna
Siranna will be a private space where the sea, mountain and wadi meet. This effortlessly chic destination will be harmoniously blending nature and standout architecture. Siranna is an example of NEOM’s uncompromising efforts to create spaces in nature that support sustainable future living and nurture creativity, while offering the ultimate luxury hospitality experience. Siranna will evoke a sense of romance, offering tranquil seclusion in an environment that fosters original thinking and relaxation.
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