Neom City Saudi Arabia
Neom City Saudi Arabia is built in Tabuk Province (Northwestern Saudia Arabia). The aim of the Neom project is to build smart city technologies and function as a tourist destination. Neom City Saudia Arabia is surrounded by the Red Sea in the North, Egypt in the East, across the Gulf of Aqaba, and Jordan in the South. This complements its easy connectivity all over the world.
Neom City Saudi Arabia has been granted a total area of 26,500 Km sq which is now extending to 170 km. Neom Project Saudi Arabia was founded by his Royal Highness Prince Mohammad Bin Salam with the aim of completing the major part by 2020 and expansion to be completed by 2025.
Independent from the existing government framework Neom City Saudi Arabia will have its own tax and labor laws with an autonomous Judicial System. In 2020, US’s Air Products & Chemical Inc announced the world’s largest Green Hydrogen Plant in Saudi Arabia New City. India’s Larsen & Toubro was awarded the contract of constructing a 2,930 MW Solar power generation plant, 1,370 MW Wind power farm, 400 MW Battery Energy storage system, and 190 km Power transmission for the Neom City Saudi Arabia.
Neom City Map
Neom Company
Neom company was announced on Jan 29, 2019, by Saudi Arabia as a joint stock company. The aim was that the company shall be wholly owned by Public Investment Fund & Sovereign Wealth Fund. Neom company emerged from the Saudi Vision 2030 a plan to reduce Saudi Arabia’s Dependence on oil, diversify its economy & develop the public service sector.
Nemo company aimed to do something that was never been done before. When the world need fresh thinking and new solution Neom company attempted this vision. His Royal Highness Prince Mohammad Bin Salam on 24 Oct 2017 announced the Neom project Saudi Arabia with a envision of Coming from the future in his mind.
Neom Project
Neom City Saudi Arabia is one of the most talked about projects today. It is one of the most innovative and creative projects in Saudi Arabia. The name Neom selected for the Neom Project itself is the result of the Design Thinking approach where in they defined the criteria, qualities, and conditions. Then brainstorming was done based on the clear and firm vision of the Neom Project. 2000 names were suggested by the experts which were then shot down to 150 names. After shorting and testing it was further reduced to five names but none of them were chosen.
Board members of the Neom project then started brainstorming for words that represent the project sectors and their basic pillars. So they decide to choose the initials of those sectors and merge them to get a peculiar name that could represent the identity of the project.
NEO MSTACBEL was the result for the name Saudi Arabia New City - Neom. The first three letters of NEO come from the Greek word for "New". MSTACBEL symbolizes the main project sectors, such as Media, Sport, Technology, and Energy. They decide to merge the first initial M with NEO to make the name as M is the abbreviation of the Arabic word "Mostaqbal" which means "Future." NEOM is a phrase that means "New Future" and "New Enterprise Operating Model.
Neom Project Saudi Arabia
Neom Project Saudi Arabia is popular not only for its name and vision but also for the NEOM logo. The Neom Logo was designed to reflect the values and vision of the Neom Project - Saudi Arabia New City. The symbol has five distinct sections, each corresponding to one of the core pillars: technology, nature, community, sustainability, and livability.
Neom Project Saudi Arabia projects highlight four major projects as the regions of the Neom Project. Neom City Master Plan consists of:
THE LINE - New wonders for the world
TROJENA - The Mountain of Neom
OXAGON - A blueprint for advanced & clean industry
NEOM BAY AIRPORT - A commercial airport in Neom City Saudi Arabia
FAQ
Will NEOM have its own laws?
Independent from the existing government framework Neom City Saudi Arabia will have its own tax and labor laws with an autonomous Judicial System.
Who is investing in NEOM?
Saudi Arabia decided to invest $80 billion as an investment fund tied to the crown prince’s flagship megaproject, Neom. They have a plan to open IPO as soon as 2024.
Is NEOM still being built?
Neom project aimed at completing the project major part by 2020 with an expansion by 2025. Most of the project remains bare desert as per the 2022 report.