In essence, it’s a startup the size of a country.
Headed by Crown Prince Mohammed bin Salman, in October “the world’s most ambitions project” called NEOM was announced. With a mission to “prepare for the next age of human progress”, Saudi Arabia has a vision for the future.
A combination of “neo,” or new, and a derivation from the Arabic word “mustaqbal,” or future, the special zone will be established in the north-western region of Saudi Arabia.
It’s set to include territory from within the Egyptian and Jordanian borders, to comprise a total area of 26 500 km², reports Bloomberg:
The prince already knows what he wants to turn the strip of coast into. Neom Bay will start as the operational hub for the city and “be like the Hamptons in New York later on,” he said. But that doesn’t mean more jobs for the young Saudi population increasingly edgy over its economic prospects.
“It’s not Neom’s duty to create jobs for Saudis,” Prince Mohammed said. “Neom’s duty is to be a world hub for everyone in the whole world.”
Take a look at what that world hub might be like:
As you might have noticed, the area is set to be “purpose-built for a new way of living” – and won’t be as conservative as the rest of Saudi.
It will focus on “nine specialized [sic] investment sectors and living conditions that will drive the future of human civilization, energy and water, mobility, biotech, food, technological & digital sciences, advanced manufacturing, media, and entertainment with livability as its foundation,” revealed a press statement:
The focus on these sectors will stimulate economic growth and diversification by nurturing international innovation and manufacturing, to drive local industry, job creation, and GDP growth in the Kingdom. NEOM will attract private as well as public investments and partnerships.
It is set to be backed by more than $500 billion (R6,86 trillion) over the coming years by the Kingdom of Saudi Arabia itself, as well as the Saudi Arabian Public Investment Fund and local and international investors.
The project is a part of the Saudi Vision 2030, which is “underpinned by the creation of the world’s largest sovereign wealth fund, an estimated $2 trillion pot of assets that will drive investment and create jobs”.
And Neom’s first phase is expected to be completed by 2025.
Watch the project launch below for more information:
Oh, and the advert taken out in the Financial Times, which you really should be subscribing to at a reduced rate for 2OV readers, looks more like something from a 2075-based sci-fi movie:
Although there’s no directions on how to apply just yet, I rate you’re going to need legit skills or lots of money to get involved – especially if its brochure is anything to go by:
Want more? Well, pop over and Discover Neom here.
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