Skip to content Skip to Search
Skip navigation

Neom launches ‘futuristic’ project on Aqaba coast

Neom claims the Aquellum project will be accessed via the world's first floating marina, from where visitors will travel through an underground canal Neom
Neom claims the Aquellum project will be accessed via the world's first floating marina, from where visitors will travel through an underground canal

Saudi Arabia’s $500 billion Neom giga-project has launched Aquellum, a “futuristic” mixed-use development on the Gulf of Aqaba coast. 

The project will be concealed from the outside along the coastline, hidden within a 450-metre-high mountain range.  

Visitors will access Aquellum through “the world’s first floating marina” in a specially designed vessel, entering through a concealed underground canal.

Once inside, visitors will have a “100-metre-high vertical experience through the subterranean community”, which will feature hotel accommodation, apartments, retail spaces, leisure and entertainment zones, and innovative hubs.

A signature space dubbed ‘The Generator’ will house unique research labs for “disruptors, innovators and creative thinkers”.

An internal transit system will facilitate easy access to upper floors, transporting residents and visitors to their homes and hotels, ascending to rooftop gardens.

This new development follows recent announcements about Leyja, Epicon, Siranna, Utamo, and Norlana, which are sustainable tourism destinations near the Gulf of Aqaba. 

AGBI reported in November that Neom has ramped up its patent applications on names and logos, registering 33 in 2023, including 27 within the previous two months.

Neom Company has made a total of 45 applications to the US patent and trademark office since June 2021, making this year by far its most active as deadlines begin to approach for the vast giga-project to show concrete achievements.

They include 18 mysterious symbols, with 12 registered in the past two months.

Latest articles

GCC UK tax. The Labour government under new prime minister Keir Starmer may merge capital gains tax with income tax Video length: 04:06

GCC investors in UK warned of new tax liabilities

The newly elected Labour government is expected to introduce a range of tax changes that will impact non-doms – British expatriates living overseas – as well as the UK’s community of wealthy foreign investors.  Tax consultants suggest that GCC investors considering selling their UK assets should do it “sooner rather than later” to escape the […]

Iraqi Airways is seeking to expand its international reach. The airline has been working to modernise its fleet and improve its service standards,

Iraq given boost in plan to lift European flight ban

Iraq has moved a step closer to returning its flag carrier to European skies after receiving the support of the International Air Transport Association (IATA). Iraqi Airways was originally banned from Europe in 1991 due to safety concerns. Restrictions were briefly lifted in 2009 but enforced again in 2015 as the airline failed to meet […]

Part of the $3 billion deal is to redevelop Indonesia's Soekarno-Hatta International Airport

Eagle Hills gets claws into Indonesia

Eagle Hills, the Abu Dhabi developer, looks set to add Indonesia to its burgeoning worldwide portfolio. A tentative agreement was signed on Wednesday with the Indonesian government to develop $3 billion worth of tourism assets in the Southeast Asian archipelago. The deal has a validity of one year only, with the possibility of renewal, and […]

In a concession to the electorate, the legislation before parliament proposes a 25 percent increase in the payment to pensioners on the lowest rate of support

Turkey targets business with steep taxes to raise revenue

Multinational corporations operating in Turkey face a steep increase in their tax bills, thanks to one of the new revenue-raising measures outlined by the government in draft legislation aimed at narrowing the budget deficit. Under the new tax reforms, tabled before the parliament on July 16, multinationals with more than $817.6 million in annual consolidated […]