Giga Projects in Saudi Arabia
The claimed 'giga-project,' which is expected to be completed in 2030, would span 22 of the 90 islands that make up an archipelago off Saudi Arabia's west coast and inland and will have 50 hotels and 8,000 rooms. The islands without accommodations will be kept in perfect condition, with nine being designated as exceptional conservation zones.
All you need to know
Who is investing in NEOM?
The Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, as well as local and foreign investors, will spend more than $500 billion in NEOM over the next few years,” stated HRH Prince Mohammed bin Salman, Crown Prince and Chairman of the Public Investment Fund (PIF)
What is the NEOM Project?
Neom, which stands for "New Future," is a $500 billion futuristic megacity in northwest Saudi Arabia that will about the Gulf of Aqaba and encompass 10,230 square miles. Neom's strategic relevance for Mohammed bin Salman's foreign policy is shown by the meeting's location.
What is the Red Sea Development Company?
The Coastal Village, a residential and commercial complex that will house the employees, staff, and management of The Red Sea Project, has begun construction by The Red Sea Development Company (TRSDC), the master developer behind one of the world's most ambitious tourism ventures.
Is Amaala part of NEOM Projects?
Amaala will be part of a new Red Sea ecosystem that includes the Red Sea Project and NEOM. Amaala is built on three pillars: wellness, healthy living, and sports; art and culture; and sea, sun, and way of life.