Neom

Neom
نيوم
Neom city logo
Neom
Location of Neom in Saudi Arabia
Coordinates: 28°17′17″N 34°50′42″E / 28.28806°N 34.84500°E / 28.28806; 34.84500Coordinates: 28°17′17″N 34°50′42″E / 28.28806°N 34.84500°E / 28.28806; 34.84500
Country  Saudi Arabia
Announced October 24, 2017
Founded by Crown Prince Muhammad bin Salman
Government
 • Director Nadhmi Al-Nasr[1]
Area
 • Total 26,500 km2 (10,200 sq mi)
Time zone UTC+03 (Arabian Standard Time)
Website www.discoverneom.com

Neom (styled NEOM; Arabic: نيوم‎ Niyūm) is a Saudi project for a smart and tourist cross-border city planned for construction, The project is located in the far north-west of Saudi Arabia it will be constructed in Tabuk. It includes marine land located within the Egyptian and Jordanian borders. [2] It will provide many investment opportunities with a total area of 26,500 km2 (10,200 sq mi) and will extend 460 km on the coast of the Red Sea.

The project aims to transform Saudi Arabia into a leading global model in various aspects, one of the main objectives of the project is to seek ways of cooperation and investment with a wide network of international investors and innovators, and aims to focus on advanced industries and advanced technology. [3] The first phase will be completed by 2025. The project was supported and funded by the Saudi Public Investment Fund of $ 500 billion.

Inauguration of the project

The city was announced by Saudi Crown Prince Mohammad bin Salman at the Future Investment Initiative conference in Riyadh, Saudi Arabia on October 24, 2017.[4] He said it will operate independently from the “existing governmental framework” with its own tax and labor laws and an "autonomous judicial system."[5]

The initiative emerged from Saudi Vision 2030, a plan that seeks to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors. Ghanem Nuseibeh told Inverse that the Saudi intention was "..to shift from oil to high tech and put Saudi kingdom at the forefront of technological advances. This is the post-oil era. These countries are trying to flourish beyond oil exporting and the ones who don’t will be left behind."[6] The German Klaus Kleinfeld, former chairman and CEO of Alcoa Inc., and former president and CEO of Siemens AG, will direct the development of the city. Plans call for robots to perform functions such as security, logistics, home delivery, and caregiving[7] and for the city to be powered solely with wind and solar power.[5] Because the city will be designed and constructed from scratch, other innovations in infrastructure and mobility have been suggested. Planning and construction will be initiated with $500 billion from the Public Investment Fund of Saudi Arabia and international investors.[8] The first phase of the project is scheduled for completion by 2025.[9]

Name

The name "Neom" was constructed from two words. The first three letters form the Ancient Greek prefix neo- meaning “new”. The fourth letter is from the abbreviation of Mostaqbal (Arabic: مستقبل‎), an Arabic word meaning “future.”[10]

Location

The Neom project[11] is located in Tabuk, Saudi Arabia in the northwest of the Kingdom, extended along with Aqaba Gulf and 468 km of coastline with beaches and coral reefs, as well as mountains up to 2,500 m high, with a total area of around 26,500 sq. km.[12]

Directors

Klaus Kleinfeld was announced as the inaugural director for the Neom project upon its launch by Crown Prince Muhammad bin Salman on 24 October 2017. On 3 July 2018, Kleinfeld was announced as the new advisor to Salman from 1 August 2018 onwards. Nadhmi Al-Nasr would succeed him as the new Director of Neom from 1 August 2018.[13] Al-Nasr, who has over 30 plus years of experience with Saudi Aramco and most recently has been the Interim President for King Abdullah University of Science and Technology (KAUST), had worked on developing the strategy and development of NEOM Bay, one of the initial stages of NEOM’s development.[14]

See also

References

  1. ↑ PROFILE: Who is Nadhmi al-Nasr, the new CEO of Saudi Arabia’s NEOM?, alarabiya.net.
  2. ↑ "نيوم".. تفاصيل أضخم مشروع سعودي ممتد بين 3 دول سكاي نيوز عربية , نشر في 24 أكتوبر 2017 ودخل في 24 أكتوبر 2017.
  3. ↑ تعرّف على تفاصيل مشروع "نيوم" الذي أعلن عنه ولي العهد اليوم صحيفة سبق الإلكترونية , نشر في 24 أكتوبر 2017 ودخل في 24 أكتوبر 2017. Archived 2017-11-08 at the Wayback Machine.</
  4. ↑ "Saudi Arabia Just Announced Plans to Build a Mega City That Will Cost $500 Billion". Bloomberg L.P. 24 October 2017.
  5. 1 2 "Saudis set $500 billion plan to develop zone linked with Jordan and Egypt". CNBC. 24 October 2017.
  6. ↑ "Saudi Arabia Reveals NEOM, its Planned Futuristic Megacity". Inverse. October 25, 2017.
  7. ↑ "Saudi Arabia's new city, Neom, a mecca for robots". The Washington Times. 24 October 2017.
  8. ↑ "Saudi Arabia's new super city: Fast facts". Fox Business. 24 October 2017.
  9. ↑ "NEOM - Frequently Asked Questions" (PDF).
  10. ↑ "What does Saudi Arabia's mega project 'NEOM' actually stand for?". Alarabiya. 24 October 2017.
  11. ↑ "NEOM Saudi Arabia Mega-City - Neom Saudi City". Neom Saudi City. Retrieved 2018-03-01.
  12. ↑ "WHERE IS NEOM? THE UNIQUE LOCATION". NEOM SAUDI CITY. October 25, 2017.
  13. ↑ "Klaus Kleinfeld named adviser to Saudi crown prince, NEOM appoints new CEO". Arabnews. Retrieved 03 July 2018.
  14. ↑ "Klaus Kleinfeld named adviser to Saudi crown prince, NEOM appoints new CEO". Arabnews. Arabnews. Retrieved 16 September 2018.
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