Amman Stock Market Falls    Russia Reports 6,431 New Coronavirus Cases, 150 Deaths    HRH Crown Prince Congratulates President of Guinea-Bissau on Independence Day    Saudi Press: Saudi Arabia Celebrates 90th Anniversary of its National Day With Comprehensive Development    Weather Forecast for Wednesday    Land of the future Saudi Arabia celebrates its 90th National Day with a proud history and bright future    Saudi Cabinet calls for confronting Iran's destabilizing behavior    Saudi Arabia allows gradual resumption of Umrah from Oct. 4    Al-Qasabi lauds efforts of trade and investment working group    HyperX releases first Arabic layout keyboard for gaming    Riyadh Ranks the 5th Smart City among G20 Member States' Capitals, on IMD Indicator    Saudi Arabia's National Day holds exceptional significance for Yemenis    BAB confirms banks' readiness to defer loan installments    Happy National Day 90    Global oil & gas project sanctioning is set to recover and exceed pre-COVID-19 levels from 2022    Roma given defeat by Serie A for using ineligible player    Sotheby's, Phillips and Ketterer adapt to the new reality    Custodian of the Two Holy Mosques Receives Cables of Congratulations on the Kingdom's 90th National Day from Rulers of Fujairah, Oum Al-Quwain, Sharjah, Ras Al-Khimah & Ajman    Health officials get first dose of COVID-19 vaccine    UAE nuclear energy plant Unit 1 reaches 50% power capacity    Kingdom to mark 90th National Day with pride    India's new COVID-19 cases at lowest in almost a month    Saudi Arabia continues to work toward achieving peace in Yemen: Prince Khalid    AL Secretary General Meets with Arab Parliament's Speaker    50 riders to take part in National Day show jumping competition    Amman Stock Market Falls    Abu Dhabi, Israel, forge film ties following peace accord    AlUla Date Festival to Launch Next Month    Bahrain Bourse Falls    Air show, fireworks planned for 90th Saudi National Day    My goal is to lift the national football cup: Maram    SGS Signs MoU to Use Best Technologies in Sterilizing Planes and Airports in Saudi Arabia    SAGO Completes Procedures for 6th Barley Tender in 2020    UAE Team Emirates' Pogacar wins the Tour De France    New expat body to help women, kids tackle pandemic trauma    Every work has its fruits, so choose wisely    Wydad appeal over CAF 2019 Champions' final dismissed by CAS    Saudi Youths Transfer Saudi Arabia's Culture via Animation Production    Saudi Scholarship Program to Promote Football Talents, abroad, Co-sign Accord with Spanish Real Sociedad    French Open to allow 11,500 fans per day between the three show courts    Saudi Films' Festival virtual Events Continued    Saudi Films' Festival Events Continue, amid Wide-Scale Cultural Participation    Mediation center contributes to 22% decrease in divorces    Saudi woman seeks to restrain wealthy hubby from remarrying    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





2019 will be a milestone year in NEOM's journey: CEO Al-Nasr
Published in The Saudi Gazette on 16 - 01 - 2019

Saudi Arabia plans to start developing the first area of its mega business zone NEOM in the first quarter of 2019, Saudi Press Agency (SPA) reported on Wednesday.
The NEOM founding Board approved the strategic concept of the master plan for NEOM Bay, the first urban area to be developed in NEOM, recently in a meeting chaired by Crown Prince Muhammad Bin Salman, deputy premier and minister of defense and Chairman of the Board of Directors of the Public Investment Fund.
The Founding Board gave instructions to complete preparations and start construction work in the first quarter of 2019. It is expected that a number of key facilities will be completed by the end of this year including the current airport at Sharma, which will be upgraded to become a commercial airport operating regular flights between Riyadh and NEOM. The work on the first phase of NEOM Bay will be completed in 2020.
"The year 2019 will be a milestone in NEOM's journey; we are now preparing to move on to the construction stages of NEOM Bay area, which will provide a new concept of living and work that can serve as a platform to attract the world's leading minds to create economic sectors," Nadhmi Al-Nasr, chief executive officer of NEOM, said.
"The strategy of developing NEOM Bay will be based on four basic pillars," he explained. The first is to provide a living experience and an ideal quality of life for the families. The second is to create an elegant lifestyle and a tourism and leisure system. The third and fourth pillars are to support the innovation centers to achieve NEOM economic goals.
On innovation centers, he said, "It supports the knowledge-based economy in various sectors such as media and health, while the centers of creativity support art in all its orientations and image to create a unique identity of NEOM."
He pointed out that these four pillars will be reflected in the entire work of the project development, its essential characteristic.
"NEOM Bay" will be NEOM's first window to the world, blessed with pristine white beaches and a temperate climate. The project has financial support of over $500 billion from the Public Investment Fund (PIF) providing an attractive investment opportunity for local and international investors, SPA said.
In line with NEOM's goals to find innovative solutions to the challenges facing humanity, the Bay project is designed to provide sustainable solutions, the most important of which is building an ideal environment for promoting human health, finding solutions to business environment challenges, in various aspects of life. In addition to the development of intelligent urban infrastructure and advanced infrastructure, to form a unique future destination the first of its kind in the world, SPA added.
NEOM is considered to be a first-class eco-friendly project; energy will be generated from renewable sources. Desalination will also be achieved without the disposal of any materials or residues harmful to the marine environment, as well as reducing carbon emissions. — SG/SPA


Clic here to read the story from its source.