NEOM: ambitious Saudi $500 billion city

Jordan

Published: 2017-10-25 19:16

Last Updated: 2018-10-14 21:29


Megacity Neom
Megacity Neom
Roya News Source

A government source told Roya that the Saudi-funded project NEOM will connect Asia and Africa in a designated zone covering landmass between Saudi Arabia, Jordan, and Egypt, claiming that it would enable stronger commercial ties and cooperation between the three countries.

The source said that Jordan is now more capable of attracting investors, especially with its capable workforce.

Mohammad Bin Salman, Saudi Arabia’s crown prince, announced Tuesday the establishment of the NEOM project, which entails plans to build a $500 billion megacity spanning 26.5sq km, making it at least 30 times bigger than New York City.

The massive project intends to attract private and public investments, with specialized sectors spread out across the sprawl of the city catering to different fields like transportation, media, and entertainment.