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He said in an interview during World Economic Forum special meeting in Riyadh that "For NEOM, the projects, the intended scale is continuing as planned. There is no change in scale". [ 11 ] As of October 2024 [update] , Saudi Arabia intends to complete a 5 kilometres (3.1 mi) central segment of The Line by 2030, while completion of the full 170 ...
The name "Neom" is a portmanteau.The first three letters are the Ancient Greek prefix neo meaning "new". The fourth letter, M, is the first letter of Crown Prince Mohammed bin Salman's name, [18] as well as the first letter of the Arabic word for "future" (Arabic: مستقبل, romanized: Mustaqbal, Hejazi Arabic pronunciation: [mʊsˈtaɡbal]).
Roshn was officially launched by the Saudi Public Investment Fund on 19 August 2020 as one of its 5 megaprojects, which are: Neom, Red Sea Project, Qiddiya, and Diriyah Company. [4] On 24 August 2022, Roshn secured naming rights to the Saudi Pro League in a five-year deal worth $127 million. [5]
The Neom project is the centrepiece of Saudi ruler Mohammed bin Salman's bid to reform the Saudi economy, moving it away from its reliance on fossil fuels towards innovation and tourism.
Project Location Total area (km 2) Announcement date Expected completion Cost Website NEOM, [3] including The Line and Trojena: Tabuk: 26,500 2017-10-24 2030 (first phase) $500 billion Qiddiya [4] South-west of Riyadh: 360 2017-04-08 2030 $9.8 billion [5] Red Sea Global, [6] including The Red Sea Project and Amaala: Tabuk: 32,200 2017-07-31 ...
As part of the construction work for the Saudi Arabian megaproject NEOM, the subsidiary Saudi BAUER Foundation Contractors Ltd. was awarded a contract in August 2022 for a first specialist foundation engineering project - the installation of approx. 70 m deep large-diameter bored piles for The Line.
The massive construction site at Neom in Saudi Arabia is a haven for crime, disorder, rape, and dangerous working conditions, according to an investigation by the Wall Street Journal.
Following its announcement, several hotel projects are currently in the pipeline on Sindalah. Marriott International has signed a deal to open three properties in 2024, including a 70-key Luxury Collection beach resort, a 115-key Luxury Collection city hotel, and a 66-key Autograph Collection , [ 15 ] while a 277-key Four Seasons hotel is ...