Saudi Arabia to build futuristic city center for technology and business
This week, Saudi Arabia’s Crown Prince Mohammed bin Salman has announced a $500 billion technological megacity Neom, consisting of nanobiology labs, solar panels, fully automated government services, “digital air”–style Wi-Fi, world-class education, the best in artificial intelligence and augmented-reality technologies , will be launched by 2030. Not only a city for scientific innovations, it would also satisfy the most demanding luxury lifestyle community, with Michelin-starred restaurants, untouched beaches, pristine coastline luxury retailers and various entertainment options.
The city will cover 26,500 square kilometers in total area in the northwest of the country along the Red Sea and Gulf of Aqaba. The country’s Crown Prince plans to extend it into neighboring Egypt and Jordan, making it the first private zone to span three countries.
The metro hub will be located furthest west of the country, at the border of Jordan and Egypt, which means it could consist the first bridge between Asia and Africa.
Prince Mohammed, whose country has been criticized for human
rights abuses and who promised the
ultraconservative kingdom would return to “moderate Islam” ,said that Neom
would be an “idyllic society that promotes inclusion and encourages personal
growth and lives by world-class social norms.”
The $500 billion( $640 billion according to other estimates) Neom will be sponsored by the kingdom’s sovereign wealth fund, which the prince oversees, as well as the Saudi government and a range of private and international investors.
“This place is not for conventional people or conventional companies,” Crown Prince Mohammed bin Salman told an audience of investors from around the world gathered in the capital, Riyadh, on Tuesday. “This will be a place for the dreamers of the world.”