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NEOM is a visionary project that aims to create a new model of urban living in Saudi Arabia. It is a planned smart city that will cover an area of 26,500 square kilometers (10,200 square miles) in the northwest of the country, nearz the borders of Egypt and Jordan. NEOM is designed to be a global hub for innovation, trade, tourism, and sustainability, powered entirely by renewable energy sources.
The Origin of NEOM
NEOM was announced by Saudi Crown Prince Mohammed bin Salman on October 24, 2017, at the Future Investment Initiative conference in Riyadh. He said that NEOM would operate independently from the existing governmental framework, with its own tax and labor laws and an autonomous judicial system. He also said that NEOM would attract international investors and talent to diversify the Kingdom’s economy and address global challenges.
The name NEOM is a portmanteau of two words: neo, which means “new” in Greek, and mustaqbal, which means “future” in Arabic. Thus, NEOM signifies a new future for Saudi Arabia and the world.
The Vision of NEOM
NEOM has a bold vision to become a leading destination for living and working in the 21st century. According to its official website , NEOM aims to:
- Be home to an international community of free-thinkers and doers
- Be a living laboratory for entrepreneurship and innovation
- Be set in breathtaking natural landscapes and driven by advanced disruptive technology
- Be a cutting-edge industrial powerhouse and a revolution in urban living
- Be home to some of the world’s most beautiful islands
- Be a diverse destination that offers something for everyone
NEOM has also identified 16 key sectors that will drive its
Neom development: energy; water; mobility; biotech; food; manufacturing; media; entertainment; culture; fashion; sport; tourism; health; education; livability; digital.
The Progress of NEOM
NEOM is still under construction, but it has already made some notable achievements. For example:
- In January 2019, Saudi Arabia announced that it had set up a closed joint-stock company named Neom , which is wholly owned by the Public Investment Fund (PIF), and is solely dedicated to developing the economic zone of Neom.
- In July 2019, Neom signed an agreement with Air Products and ACWA Power to build the world’s largest green hydrogen plant , which will produce carbon-free fuel for transportation and power generation.
- In August 2020, Neom unveiled its plans for “The Line” , a linear city that will stretch over 170 kilometers (106 miles) along the Red Sea coast. The Line will have no cars or roads, but instead rely on high-speed transit systems and walkability. It will also have no carbon emissions or environmental impact.
- In March 2021, Neom announced its partnership with STC Group , Saudi Arabia’s largest telecom operator, to develop a 5G network infrastructure across Neom.
- In July 2021, Neom launched its first airport , named Neom Bay Airport (IATA: NUM), which can accommodate up to 15 flights per hour.
The Future of NEOM
NEOM has ambitious plans for its future development. According to its website , it expects to:
- Open its first region for visitors by 2024
- Announce four regions: Industrial City (a floating industrial complex), Global Trade Hub (a logistics center), Tourist Resorts (a collection of luxury destinations), Linear City (The Line)
- Preserve 95% of its natural landscape as nature reserve
- Achieve 100% renewable energy supply
- Attract over one million residents from around the world
- Generate over $100 billion in annual GDP by 2030
NEOM is estimated to cost over $500 billion , making it one of the most expensive the neom projects in history. It also faces many challenges such as geopolitical tensions , environmental concerns , social issues , legal hurdles , technical difficulties , and public skepticism
NEOM remains optimistic about its prospects and potential
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Airport (IATA: NUM, ICAO: OENN) is a commercial airport located in NEOM, a futuristic city project in Saudi Arabia. The airport is situated at NEOM Bay, the first area to be developed as part of the city’s vision. The airport opened to commercial traffic in June 2019 and received its first international flight from Dubai in March 2023. The airport has a runway length of 2,630 meters and can accommodate various types of aircraft. The airport is also the first in the region to use the 5G wireless network service, enhancing its connectivity and efficiency. Airport serves as a strategic hub for linking Saudi Arabia with Jordan and Egypt, as well as other global destinations. (neom in saudi arabia)
Invest in NEOM
Investing in NEOM is investing in the new future. NEOM is a planned smart city of neom in northwestern Saudi Arabia that aims to be a global hub for innovation, trade, tourism and sustainability. NEOM will operate independently from the existing governmental framework with its own tax and labour laws and an autonomous judicial system. Powered by 100% renewable energy sources, NEOM will offer a high quality of life for its residents and visitors, while preserving 95% of its natural landscape. NEOM is a unique opportunity to be part of a visionary project that will transform the region and the world .
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