Saudi Arabia’s Neom is a $500B futuristic city being built in the desert : US Pioneer Global VC DIFCHQ Riyadh UAE-Singapore Norway Swiss Our Mind

  • Saudi Arabia is building a futuristic mega-city called Neom deep in a desert bordering the Red Sea.
  • The state has pledged at least $500 billion to make it happen, and is soliciting further investment.
  • But critics fear that sophisticated technology could be used to surveil residents.
Saudi Arabia hopes to build a futuristic mega-city 33 times the size of New York City from scratch.

Saudi officials describe it as “the world’s most ambitious project.”

It’s called Neom, a planned 16-borough city on the Red Sea coast in the northwestern Saudi province of Tabuk.

Crown Prince Mohammed bin Salman told Bloomberg in October 2018 that Neom would be completed in 2025, and that phase one was nearly done.

As of 2023, that timeline looked unlikely — Neom’s official website promised that some people would live there from 2024, but said it would be 2030 before it was home to a million people, and 2045 before its target of nine million.

As the plans developed, Crown Prince Mohammed’s decision to form a closer alliance with China’s President Xi Jinping has some analysts concerned. As Insider reported, they believe that the Saudis could be preparing to use sophisticated Chinese surveillance technology to tightly monitor and control Neom’s residents.

Here is a rundown of the project so far:

Neom is a portmanteau of the Greek word neos, meaning “new,” and mustaqbal, the Arabic word for “future.”

neom
The desert site in Tabuk Province which will eventually house Neom. 
Neom

Source: Business Insider

It will cover 10,230 square miles, and cost Saudi Arabia’s Public Investment Fund at least $500 billion — plus millions in foreign investment if it can get it.

neom
The proposed site for the Neom project in Tabuk Province, north western Saudi Arabia. 
neom

Source: Business Insider

Neom is part of Vision 2030: an ambitious plan to revolutionize Saudi society, reduce dependence on oil, and make the country a technology hub.

Vision 2030 Saudi Arabia
A Saudi man walks past the logo of Vision 2030 after a news conference, in Jeddah, Saudi Arabia June 7, 2016. 
REUTERS/Faisal Al Nasser

Source: Vision 2030

https://www.businessinsider.com/neom-what-we-know-saudi-arabia-500bn-mega-city-2019-9?amp