The $500 Billion Neom City Project In Saudi Arabia
What is Neom? I’m glad you asked. It’s described as the world’s most ambitious project, a purpose-built new country within a country, to usher in a new way of living. The name is shortened from the Latin-Arabic term Neo-Mustaqbal, which means new future. And it might not be that far off in the future.
Plans to build Neom were first announced in 2017, and it sounded like something straight out of a sci-fi movie, complete with dinosaurs, flying cars, and a fake moon. Kind of like Star wars, star trek, and Jurassic park combined.
When the plans were first proposed, Neom’s CEO Nadhmi Al-Nasr explained that Neom is “all about things that are necessarily future-oriented and visionary”.
He added that it includes cutting-edge technology and beyond, and some of the cases are still in the development and theoretical stages.
The city will be founded on 16 economic sectors, including tourism, energy, technology, and biotech. Furthermore, these sectors are proposed to generate an estimated annual income of about $100 billion.
NEOM will be occupying one of the most strategic locations in the country, situated on one of the world’s most significant economic pathways, and intertwining three continents together, Asia, Europe, and Africa.
This means that almost 40 percent of the global population will easily be able to reach NEOM in a matter of four hours, and in most cases, even less. And let’s not forget that an estimate of 10 percent of the worldwide trade runs through the Red Sea, given that NEOM’s site is at the North of the Red Sea.
What are your thoughts on Neom: The Smart City In Saudi Arabia?
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The $500 Billion Neom City Project In Saudi Arabia
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