NEOM project has obtained the necessary approvals from the official authorities in the Kingdom to establish a closed joint stock company under the name of “NEOM Company” with fully paid up capital and owned by the Public Investment Fund.
Red Sea Development Company has received the approval of its board of directors on the Red Sea Project, one of the most ambitious tourism projects in the world. The project outline, co-developed by WATG and Buro Happold, has been designed by a group of leading engineering consulting firms in the world.
At its last meeting, chaired by Prince Mohammed bin Salman, Deputy Prime minister and chairman of the Public Investment Fund, the Constituent Assembly approved the strategic concept of the capital master plan for the region of “NEOM Bay “, the first populated area to be developed in NEOM.
Saudi Arabia’s first charter flight to Sharma’s NEOM Airport has transported 130 staff on the NEOM project as their first official annual meeting on the project grounds, Affiliation between employees and the region on the other hand.
Saudi Arabia announced the last year 2018, a large number of projects, the most important of which is NEOM; the new technology-intensive city of $ 500 billion, in addition to Al Qiddiya, The Red Sea coast project and Amala.
Project location in Medina / Governorate: Al-Masjid al-Haram
Owner: Ministry of Finance
The total area of the project: 72000 square meters