NEOM

NEOMⁱ is a giga-project and a flagship development under Saudi Arabia’s Vision 2030. It is a cross-border business and industrial region (special economic zone) under implementation in Saudi Arabia^{1 ii}. The project’s vision is to create “The land of the future, where the greatest minds and best talents are empowered to embody pioneering ideas and exceed boundaries”². In this sense, NEOM represents an endeavor to reshape Saudi Arabia’s future by promoting economy, sustainability, and a “new model for urban living”³, in line with global trends in innovation and sustainability development⁴.

The project is located in the northwest of Saudi Arabia, covering a vast area of approximately 26,500 square kilometers along the Red Sea coast⁵. This location includes parts of the desert, coastal areas, and mountains, offering a unique and diverse landscape for the development, which foresees a set of distinct regions (sub-projects), including:

• Gulf of Aquaba: a region which includes several leisure and tourism projects such as Leyja, a luxury eco-tourism center; Epicon, an “ultra-luxury” resort complex; Siranna, a luxury hospitality project; Utamo, a mountainous event space; Norlana waterfront community; and Aquellum, a subterranean digitalized community.
• Oxagon: an octagon-shaped port city, poised to become the world’s largest floating structure​;
• Sindalah: an island resort targeted at the yachting community​.
• THE LINE: a 170 kilometer linear city expected to house nine million people, featuring two parallel, high-rise structures with mirrored facades​;
• Trojena: a mountain-based ski resort set to host the 2029 Asian Winter Games⁶ ;
• In addition to these regions, Neom will include a port, an airport, as well as 6.5 square kilometers of agricultural fields⁷. Meanwhile, 95% of NEOM will be preserved as a natural reserve⁸.

Here, economic, industrial, and touristic activities strive to attract investments and boost tourism in Saudi Arabia, which in turn seeks to create jobs directly in NEOM and indirectly across commercial and construction industries⁹, making NEOM a destination for investors, entrepreneurs, and visitors, including tourists and local residents alike¹⁰. A main aspect of NEOM is its commitment to sustainability and renewable energy. The plan is for the entire region to be powered by renewable energy sources by 2030 via wind and solar resources as well as the world’s largest hydrogen plant, marking a significant shift from the country’s historical reliance on oil¹¹. NEOM is also envisioned to be at the forefront of technological innovation. It aims to incorporate cutting-edge technologies in various sectors, including construction, robotics, and artificial intelligence, to create a futuristic living and working environment¹².

The project was launched in 2017 by Saudi Crown Prince Mohammed Bin Salman, and is primarily funded by the Public Investment Fund of Saudi Arabia (PIF)¹³,  with a commitment of $ 500 bn supplemented by contributions from local and international investors, making NEOM one of the largest investment projects globally¹⁴. In 2019, Saudi Arabia has announced setting up a closed joint-stock company named NEOM, wholly owned subsidiary of the PIF¹⁵, while NEOM Investment Fund (NIF) was announced as the strategic investment arm of NEOM in 2023¹⁶. A few International studios have officially been announced as consultants, including multinational consulting studio AECOM and American engineering company Bechtel^{17 iii}.

NEOM is progressing through a series of phases. Early phases focus on infrastructure development. Oxagon will welcome its first residents by 2024, while TROJENA is projected to become a vibrant place to live, work, and vacation in 2026¹⁸. Furthermore, the first modules of THE LINE, an innovative linear city concept, are scheduled for activation in 2026¹⁹. By 2030, NEOM anticipates accommodating approximately one million residents, with a projected population of nine million by 2045²⁰.