Monday 22 April 2019
 
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$500bn MEGA PROJECT

Saudi Arabia eyes first city at Neom development in 2020

RIYADH, March 23, 2019

Saudi Arabia has announced that work is progressing well on the first city being built as part of its $500-billion ambitious project Neom in the northwestern part of the kingdom, said a report.
 
In September last year, Neom project began environmental, geological, and archaeological surveys to ensure that the execution of any future construction is well-planned and sustainable, reported the Saudi Press Agency. 
 
Neom comprises 16 economic sectors that offer mega opportunities to investors worldwide.
 
One of the world's most ambitious projects, Neom will inaugurate several basic infrastructure facilities by the end of this year, stated the report, citing Antoni Vives, chief executive officer of Spanish group, City Transformation Agency (CTA). 
 
The Barcelona-based CTA is an innovative firm that works to generate hope and deliver welfare in cities all around the globe. 
 
Its mission is to help cities, regional and national governments, companies and organisations to address urban challenges and improve people’s well-being and quality of life.
 
Saudi Arabia on Thursday announced the beginning of establishing a city in Neom. The city will be completed in 2020, stated Vives.
 
In mid-January, the project’s board approved the master plan for developing the first urban area in the Neom megaproject, he added.



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