NEOM City is a smart city which is currently being built in Tabuk Province in north-western Saudi Arabia, having been announced by Saudi Crown Prince Mohammed bin Salman in 2017. NEOM (New Future) is one of the public investment fund’s projects where entrepreneurship and innovation will chart the course for this New Future - flying taxis, robotic avatars and holograms: sci-fi city vision. The NEON City is planned to cover a total area of 26,500 kM2, extending 170 kM along the coast of the Red Sea, and at an estimated cost of $500 billion.
Related Definitions in the Project: The Project; Technology Definitions
Example Article of the Neom City:
What Does Neom’s Downsize Means for Saudi Arabia’s Vision 2030? (Source: Oil Price on 9 April 2024): By ZeroHedge - The scaling back of the megacity project is attributed to budget constraints, with the Public Investment Fund's cash reserves dropping to $15bn in September 2023.Saudi Arabia has scaled back some of its ambitions for its desert megacity Neom, according to a report by Bloomberg. The $1.5 trillion megacity project, which organizers claim will be 33 times the size of New York City, is due to include a 170km straight-line city. When launching The Line in 2021, the Saudi government had announced that 1.5 million people would be living in the city by 2030. Officials now expect there to be fewer that 300,000 residents by that time, according to a source cited by Bloomberg.The source said that officials expected only 2.4km of the 170km city to be completed by 2030. As a result of the scaling back, one contractor dismissed some of the workers it employs on site, according to a document seen by Bloomberg. ...
