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Saudi Neom project 'good' for Dubai and region, says Crown Prince
Source

Crown Prince Mohammed bin Salman says he expects hotel deliveries in 2020-2021, with the main city to open in 2025




Saudi Arabia’s recently announced Neom city project will have a positive effect on Dubai and other cities in the region, according to Saudi Crown Prince Mohammed bin Salman.

In an interview with Bloomberg on the sidelines of the Future Investment Initiative in Riyadh last week, the Crown Prince said that Neom is
“creating new demand and this will help Dubai and it will help other hubs in the Middle East.

“I don’t think Hong Kong harmed Singapore or Singapore harmed Hong Kong. They are creating good demand around each other. This zone,
it’s creating new demand, not the same demand of Dubai.”

“It will help Dubai, it will help Bahrain. It will help especially Kuwait. Kuwait will export to Europe faster and cheaper than now
through the pipelines and the railways to Neom, immediately to Egypt, to the north of Sinai, to Europe,” he added.

Additionally, Mohammed bin Salman noted that Neom will “have a lot of ports”, some of which will be on Saudi territory, with
others in Egypt, that will also provide benefits to the other countries of the GCC, as well as Jordan, Egypt, and “lots of places in the world.”

Neom opened in 2025

When asked about the timeline of the Neom project, Mohammed bin Salman said he expected hotels to begin opening in 2020 or 2021.

“But I think the city, the main project, it will be opened in 2025,” he added. “For example, we’re working on a fast track on something we call Neom
Bay. It’s not the city, it’s the bay net to the city, just to have the offices and the places to start working in the site. But when the city is completed,
Neom Bay will be like the Hamptons in New York later on. So I think Neom Bay will be ready in 2021, we hope before that.”

The Crown Prince added that an airport dedicated to Neom employees was completed last month in the nearby city of Tabuk, which will most likely
begin operations in 2019.

He said a second airport for the city of Neom will be completed “after 2020”.

News

inno4321 said:

SKorea want Nuclear plant export to Saudi Arabia in NEOM(500 billions New mega city) project!!!

$ 19 billions 2 plant

http://news.chosun.com/site/data/html_dir/2017/10/27/2017102700386.html


BTW S korea is one of powerful nuclear plant with france japan usa russia china.
especially korea has only one country to built 3 generation nuclear power pant in the world.
france try to built but failed

Click to expand...

Saudi Arabia Just Announced Plans to Build a Mega City That Will Cost $500 Billion

Saudi Crown Prince Mohammed bin Salman announced plans to build a new city on the Red Sea coast, promising a lifestyle not available in today’s Saudi Arabia as he seeks to remake the kingdom in a time of dwindling resources.

The prince said the city project, to be called “NEOM,” will operate independently from the “existing governmental framework” with investors consulted at every step during development. The project will be backed by more than $500 billion from the Saudi government, its sovereign wealth fund and local and international investors, according to a statement released on Tuesday at an international business conference in Riyadh.

https://www.bloomberg.com/news/arti...-build-new-mega-city-on-country-s-north-coast

Egypt signs $10bn deal with Saudi Arabia to support Neom project

CAIRO: Egypt will allow stretches of land in the southern Sinai to be used for Saudi Arabia’s planned megacity Neom project announced by the Kingdom last October.

The agreement forms part of a $10 billion joint investment fund the two countries signed during the visit to Cairo this week by Crown Prince Mohammed bin Salman, according to a Saudi official.

The size of the committed land is said to be more than 1,000 square kilometers.

Saudi Arabia’s 26,500-square-kilometer Neom project is to focus on industries including water and energy, food, media, advanced manufacturing, biotechnology and entertainment.

It forms part of the country’s Vision 2030 growth strategy which aims to diversify the country away from its reliance on oil.

The project will run along the coast of the Red Sea as well as the Gulf of Aqaba. Its borders will extend across Egyptian and Jordanian borders, making it the first private economic zone to span three countries.

http://www.arabnews.com/node/1259986/saudi-arabia

this is the masterplan for the royal palaces within Neom:

Source: https://www.reuters.com/investigates/special-report/saudi-binladin-fall/

This is the location on Google Maps:
https://www.google.de/maps/place/28...m5!1s0x0:0x0!7e2!8m2!3d28.0004691!4d35.173233

The existing royal palace (supposedly by King Abdullah) has been demolished already and is replaced by the above masterplan.

The construction is more or less finished by now, this is the site as of 12. November 2018:

Source: https://eos.com/landviewer/?lat=28....A_tile_20181112_36RYS_0&b=Red,Green,Blue&anti

:cheers::cheers:

Saudi Arabia to start first phase of Neom project




LONDON: Saudi Arabia announced on Wednesday that it will start developing the first urban area of NEOM, the Kingdom’s planned $500 billion mega-city.

The founding board, chaired by Crown Prince Mohammed bin Salman, approved the masterplan concept for NEOM Bay, which will include homes, lifestyle and tourist facilities, and “innovation centers.”

The development is expected to focus on luxurious living, and will include high-end hotels and villas.

Homes in the development will be marketed to both regional and international buyers, Arab News has learned.

Construction work is expected to start in the first quarter of 2019 and will be completed in 2020. Arab News understands that contractors have not yet been appointed but that this is due before April. Discussions with investors are said to be ongoing.

The total value of the NEOM Bay development has not been disclosed.

It is expected that a number of facilities will be completed by the end of this year including the current airport at Sharma, which will offer regular flights to Riyadh, a statement said.

“We are now preparing for the development of NEOM Bay area, which will provide a new concept of urban living that will enable it to become a platform for attracting the world’s top minds for creating advanced economic sectors,” Nadhmi Al-Nasr, NEOM chief executive, said.

http://www.arabnews.com/node/1436436/business-economy

NEOM Established as a Closed Joint-Stock Company Owned by Saudi Sovereign Wealth Fund



Riyadh, January 29, 2019, SPA --The world’s future destination for dreamers and innovators– has obtained the necessary approvals from authorities in Saudi Arabia to establish a closed joint-stock company under the name “NEOM” to develop the project that is set to be the most ambitious on earth.
The newly-established entity is fully owned by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia and is responsible for achieving NEOM’s vision, which is to be the land of the future, where the greatest minds and best talents are empowered to embody pioneering ideas and exceed boundaries in a world inspired by imagination.
In order to achieve NEOM’s vision, the company will develop a new area in the Northwest of Saudi Arabia equipped with all elements to make it the best place to live and work; and a leading investment destination. This area will be the land of the future that will incubate human genius in search for solutions key challenges facing humanity. NEOM will have new cities with extensive infrastructure that includes a network of airports, an advanced seaport, industrial areas, as well as creative and innovation centers to unlock the potential of a knowledge-based economy, and a range of world-class tourist destinations. It is designed as an eco-friendly environment that caters for sustainability and livability.
The significant change in the legal status of NEOM will also allow the company to create 16 key economic sectors that will put it on the global investment map, which includes the future of energy, water, tourism, media, health and well-being, sport, food, mobility, biotech, manufacturing and livability.
Nadhmi Al-Nasr, will serve as the CEO of NEOM, while the 16 sectors will be spearheaded by leading international executives and experts in their fields. Al-Nasr is a leading Saudi executive with a track record of developing mega projects including Shaybah oilfield, a giant deposit located at the heart of the Empty Quarter desert, as well as King Abdullah University for Science and Technology (KAUST).
Commenting on this milestone, NEOM’s Chief Executive Officer, Nadhmi Al-Nasr said: “The new entity will have a unique and historical role to play as it will be responsible for developing a new global destination from scratch on a huge area, and a futuristic civilization that is based on sustainability and livability.” He added: "All this aims to turn NEOM into a global center for attracting investment, knowledge, innovation and technology in order to compete with all economic capital cities.”
--SPA
15:13 LOCAL TIME 12:13 GMT
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https://www.spa.gov.sa/1879719