The visit of Prince Mohammed bin Salman, Crown Prince of Saudi Arabia to Cairo, marked the start of Egypt’s participation in the NEOM project. Egypt and Saudi Arabia signed a number of agreements to develop Egyptian land in South Sinai with a total area of 1000 square kilometers within the new Saudi city.
A team of Saudi inventors has created a new system that can generate renewable electricity for use in the city of NEOM, the city to be built in the northern part of the Kingdom on the Red Sea coast, with funding of $ 500 billion.
Israeli companies have expressed their intention to invest in the project of the city of “NEOM” Saudi Arabia, announced by the Crown Prince, Mohammed bin Salman, is scheduled to be built on an area of 26.000 square kilometers and overlooking the Red Sea.
President Abdul-Fattah al-Sisi praised the project, which was recently launched by Saudi Arabia, as a major tourist project. During a meeting with representatives of the media, Al-Sisi said on Wednesday on the sidelines of the World Youth Forum in Sharm El-Sheikh that infrastructure in the Sinai is being developed in support of tourist projects, with two roads, one from Port Said to the Gulf of Suez.