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    Home»Money»Take a Closer Look at Saudi’s Grand Plans for Its Megacity, Neom
    Money

    Take a Closer Look at Saudi’s Grand Plans for Its Megacity, Neom

    Press RoomBy Press RoomApril 11, 2024No Comments5 Mins Read
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    Saudi Arabia’s futuristic and highly ambitious Neom megacity has been billed by officials as a place where people can “dream big.”

    While it’s certainly a large-scale project, it’s very unclear at this stage whether expectations will match up with reality.

    First announced in 2017, Neom is being constructed in Tabuk, located on the northern tip of the Red Sea.

    The kingdom has been funneling money into the 26,500 km² megacity, with costs projected to reach around $1.5 trillion for the development. The Line — a key part of the project — was planned to be finished by 2030, but recent reports suggest developers may be facing financial difficulties.

    In February, The Wall Street Journal reported that Saudi Arabia was borrowing to help fund an array of ambitious projects, including Neom. A month later, Bloomberg reported that the Gulf kingdom has significantly reduced estimates for the number of people expected to settle in The Line.

    Nonetheless, construction is powering on.

    In February, the Kingdom released a promotional video sharing updates on Neom’s progress. The video claimed the project was “progressing rapidly,” adding that “millions of cubic meters of earth and water” were being moved each week.

    Denis Hickey, the chief development officer for The Line, said: “We’ve done a lot of the foundation work literally and figuratively. We are ready to go. I think the construction of The Line is unique in terms of its industrialization and its modularized approach.”

    “We think there’s an opportunity to create a better model for a city to interact with the landscape and nature and the environment and we think The Line is going to be an example to the rest of the world,” Hickey said.

    Neom is the flagship project of the Vision 2030 plan announced by Saudi Arabia’s Crown Prince Mohammed bin Salman. The plan is an attempt to diversify the country’s economy away from a reliance on oil.

    The megaproject comprises several regions. Here’s how officials say the city will be laid out.

    The Line


    A conceptual image of the planned design for The Line in Saudi Arabia's Neom, shows a large mirrored facade extending out into the water from the desert.

    The planned design for The Line in Neom.

    Neom



    The Line is the most well-known section of Neom.

    Officials say the city is set to be contained within two 1640-foot-high mirrored skyscrapers positioned 656 feet apart. According to Neom, the city will have no roads, cars, or emissions and run on 100% renewable energy.

    The city was originally planned to accommodate nine million people by 2030. However, Bloomberg reported that this estimate was recently downgraded to less than 300,000 people by the same deadline.

    US studio Morphosis is reportedly working on the glossy city, with several more architects on board to design smaller sections.

    Oxagon


    OXAGON Saudi

    A rendering of Oxagon.

    Neom



    Located on the coast of the Red Sea, Neom officials have announced plans for an octagonal city, which they claim will house a “next-generation” sustainable port.

    If completed, the plan is for Oxagon, as it’s being called, to spill partly into the sea, with a section set to float above on the shore. Neom officials have made the bold claim the floating part of the city will be the “world’s largest floating structure.”

    Planners have also claimed the city will cover 48km² and house 90,000 people by 2030, as set out in the Vision 2030 plans.

    Sindalah


    Sindalah, Neom

    The island of Sindalah, a yachting resort and part of the Neom project, will be open in 2024, say planners.

    NEOM



    Sindalah, a luxury island resort, is planned to be the first region of Neom to be completed.

    Neom developers said the island would be an “exclusive gateway to the stunning Red Sea,” adding that they planned to welcome the global yachting community and luxury visitors.

    The resort is set to feature several luxury spots, including a beach club, a spa and wellness center, and a yacht club.

    Trojena


    Neom

    An image showing a nighttime view of mountains in the region in northwest Saudi Arabia where planners say Neom will be built.

    GettyImages/Unsplash/Neom



    Located in the mountains of the Tabuk region, Trojena has been designed to be Neom’s ski and adventure resort.

    Neom’s website says the region will be “ideally located for alpine and adventure sports” and is set to host 36 km of ski slopes. The site is also aiming to generate 10,000 jobs, per Neom’s promotional site.

    Saudi plans for Trojena to play host to 700,000 tourists annually by 2030.

    The Gulf Of Aqaba


    Neom publicity

    An image showing a diver in Tabak Province, Saudi Arabia, site of the planned Neom megacity

    GettyImages/Unsplash/Neom



    Plans for the Gulf of Aqaba coast include several of Neom’s main tourist destinations, including Epicon.

    Epicon is designed to host an “ultra-luxury” hotel and resort and include a residential offering. Official statements say it will feature two towers, one 738 feet tall and another 902 feet tall.

    If completed, the Gulf of Aqaba will include Leyka, a natural valley with three boutique hotels; Xaynor, an exclusive beach club; Siranna, a “luxury hospitality experience,” and Aquellum, a community built inside a 1,476-feet high mountain range.

    There are plans for the region to also host several other luxury escapes and wellness retreats.

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