Saudi megaprojects represent, these days, the new El Dorado for Westerners. This is the case of the NEOM project which is part of the Vision 2030 plan. Announced in 2017, it aims to reform the Saudi economy in real estate, tourism and finance. This, with the aim of helping this economy escape its dependence on hydrocarbons. The NEOM project was conceived by His Royal Highness Mohammed Bin Salman, Crown Prince and Chairman of the Board of Directors of NEOM. This guide offers you the various particularities of NEOM’s The Line project.
NEOM: a key element of Saudi Arabia’s Vision 2030
Designed by Saudi Arabia, The Line project wants to transform civilization with a linear city 170 km long. Indeed, NEOM The Line Investment aims to create a linear complex on three levels with no carbon footprint. It mainly plans large investments which will be financed by the privatization of part of the national oil company, Saudi Aramco. It should also help attract investors in order to help give Saudi Arabia a better image internationally.
The Line project: a futuristic and sustainable city initiative
The NEOM project, THE LINE, in Saudi Arabia, includes very ambitious projects such as The Spine, Oxagone and Trogena. The goal is to create a futuristic and sustainable megalopolis, with considerable progress in the construction of the international airport, the Hidden Marina and the installation of renewable energy infrastructure.
The linear complex will be 500 m high and 200 m wide. The walls will be covered with mirrors. This will make the city invisible to the surrounding nature. The construction of a waterway crossing 500 meter high buildings for the Marina is also planned. Added to this is also the development of an underground hyper-rail route. All daily needs will be available within a five-minute walk. No more need for cars in the futuristic city.
Investment opportunities at NEOM
For the next ten years, the NEOM project announced by the Crown Prince of Saudi Arabia, Mohamed bin Salman, offers various investment opportunities. Particularly in the technology, green energy and real estate sectors.
The technology sector
Technology is the point on which the Saudi authorities place particular emphasis. Because the futuristic city will emerge from an area that is today completely desert. Also, according to predictions, the city could have robotic butlers, flying taxis, glow-in-the-dark beaches and an artificial moon. Most of these technologies do not yet exist. Which represents a real investment opportunity.
The green energy sector
In addition to technology, specific emphasis is also placed on the ecological aspect of the future megalopolis. In reality, the Kingdom aims to make NEOM a zone powered 100% by renewable energy, in addition to being almost self-sufficient in terms of food. The NEOM project must be completely self-sufficient in energy with natural ventilation, renewable energies and also the creation of the largest green hydrogen factory in the world.
The real estate sector
The futuristic megalopolis should be made up of many cities, all of which will be at the forefront of urban innovation. The Oxagon industrial city is said to be the largest floating structure on water. Trojena could be home to a real estate giant at an altitude of almost 2000 meters. The city will be built on three levels and services will be superimposed on a “zero gravity urban planning” model. All of this constitutes a real investment opportunity.
In summary, the gigantic NEOM project offers numerous opportunities to investors and expatriates in various sectors. These mainly include sectors such as technology, real estate and green energy. In the coming years, NEOM city will probably be the most competitive free zone in the world. Hence the need to consider this project in the long term.
