8 things you should know about $500 billion NEOM Project of Said Arabia

NEOM is a new project that would stretch over 3 countries. This project is first of its kind and would reap the most desirable results. The project aims at improving the social and economic outlook. The special zone that would be created by the project will help the residents lead an innovative life, ideal lifestyle paired up with economic prosperity and stability.

Talented people from around the world are being hunched down to create this special, independent and unique zone. Here are 8 facts about the NEOM project that you defiantly need to know;

A developmental area full of opportunities: The zone would stretch over Egypt and Jordan as it lies on the Northwest of Saudi Arabia. The zone would stretch over an area of 26,500 km2. NEOM is all set to provide various opportunities for development as it would be located in the Red Sea.

Also Read:  Saudi Arabia will be exporting Electricity soon…

The 26,500 square kilometers project will be four times the size of Dubai (4,114 sq/km), Beirut (200 sq/km), Cairo (528 sq/km), and Amman (1,680 sq/km) combined. The Red Sea is a strategic location that facilitates 10% of the world trade flows. 

The residents can enjoy a unique climate there: a climate that cooler than the surrounding and GCC countries. Cool breeze through the Red Sea would delight the residents of the special zone. The zone is rich in natural resources (oil, gas, minerals, solar energy, and wind) and offers great scenic beauty.

Advantages of the project: The following is a summary of advantages that the project NEOM shall be providing:

The project will fetch a great economic growth in the country. Innovation leading to advanced technologies are expected. It will make easy accessibility of Saudi Arabia to a Global market. It will enable a high standard of life: Better living experience and a life full of quality and ease to its residents.

There will be incentives for Saudis to spend at home in the NEOM project. There will be endless employment opportunities for expatriates as well as Saudis in the project/

Huge Earnings for Saudi Arabia: The project aims at boosting GDP of the country. The great trade hub would help Industries prosper through technology. These industries would open up job avenues and stimulate the growth of the economy.

NEOM’s role in achieving Vision 2030: Saudi Arabia is thriving hard to achieve the vision 2030. The NEOM project is an off-shoot of vision 2030 and is all set to achieve the three primary pillars of the vision.

NEOM Project will help in Development of a society that is vibrant in nature, development of economy that prospers with time and development of a nation full of energy, patriotism, and ambition

Economic Sectors: The NEOM tends to target 9 key sectors of the economy. These sectors are vital sectors that can boost up the growth in future. They are:

The future of energy and water

The future of mobility

The future of biotech

The future of food

The future of advanced manufacturing

The future of media and media production

The future of entertainment

The future of technological and digital sciences

The future of living as NEOM’s foundation

Great quality of life matched to international standards: NEOM promises to establish a society where people would be leading a life full of ease and comfort. The ideal lifestyle is to be achieved by creating an environment great for business.

It also aims at providing great and quality education and healthcare facilities. The efficient transport system would make life easy and accessible. Houses would carter comfortable life via best technology.

Main futuristic concepts: 6 main pillars of NEOM foundation are:

Humans are the first priority

To provide next generations with great health and transport facilities

E-Government

Digitization

Sustainability

Innovation in construction

8-Economic Earnings: NEOM will help bring the financial leakages back home. The economy would flourish as more than $500 billion would be injected into the economy in near future.

Source: Al Arabiya

error: Content is protected !!