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Neom

Neom is a planned mega development in the north west of Saudi Arabia. It is one of the kingdom's giga-projects and Neom City will include subsidiary projects The Line, Trojena, Sindalah, Zardun, Aquellum and Epicon

Visitors at the Leap conference in Riyadh. Saudi technology company Alfanar is investing $1.4bn to develop four data centres

$5bn Neom data centre latest deal announced at Leap

Saudi Arabia’s $500 billion futuristic giga-project Neom has signed a $5 billion deal to develop what it claims will be the world’s first fully sustainable data centre. The agreement was signed with the Saudi IT and technology company DataVolt. The data centre will be located at Oxagon, with the first phase having a capacity of […]

Saudi Crown Prince Mohammed bin Salman Al Saud and Italy's prime minister Giorgia Meloni in AlUla have signed a deal to upgrade relations between the countries

Italian insurer guarantees $3bn Saudi giga-project loan

Sace, an Italian state-owned insurance company, has guaranteed a multi-currency loan of $3 billion provided by nine international banks to support projects in Neom, Saudi Arabia’s $500 billion giga-project. The announcement coincided with an official visit by Italian prime minister Giorgia Meloni to Saudi Arabia, where she and Crown Prince Mohammed bin Salman signed an […]

Construction worker pours concrete on rebar using concrete pump

Neom invests in Danish robotics company

Neom Investment Fund (NIF) has invested in a Danish robotics company that specialises in automation technology for the construction industry. NIF, the investment arm of Saudi Arabia’s $500 billion futuristic giga-project Neom, will put funding into GMT Robotics, which builds robotic systems for the rebar concrete-reinforcing sector. The value of the investment was not revealed.  […]

Keir Starmer with Crown Prince Mohammed bin Salman. The British prime minister visited Saudi Arabia and the UAE on his trip

UK company to open ‘miracle material’ factory in Saudi Arabia

The world’s first commercial production facility for graphene-enriched carbon fibre is to be built in Saudi Arabia, its backers have announced.  Graphene Innovations Manchester (GIM) – a UK company that is developing the “miracle material” said to be stronger than diamond, more conductive than copper and more flexible than rubber – has signed an agreement […]

A green ammonia plant under construction in Norway. Poland's Hynfra plans to build plants in Egypt and Jordan

Poland’s Hynfra to build green ammonia plant in Egypt

Egypt’s General Authority for Investment and Free Zones is linking up with Polish energy company Hynfra to build a green ammonia plant. The facility will produce ammonia for export from Egypt to the European Union, the GAFI and Hynfra said in a joint statement. It will require an investment of $1.6 billion in its first […]

Neom Green Hydrogen Company will use solar and wind power to produce hydrogen and says half its solar panels are already installed

Neom Green Hydrogen will hit all markets, says chief

Saudi Arabia’s Neom green hydrogen project is 60 percent complete and on track for full-time operation by the end of 2026, a senior official told AGBI. “We’re progressing well on all fronts, including the solar and wind farms, and we have received all the major equipment,” said Wesam Alghamdi, CEO of Neom Green Hydrogen Company […]

In the absence of any concrete structures as yet, Neom exhibitors provided virtual reality sets to give throngs of curious visitors a sense of what The Line will look like

Leaders of The Line share vision of a brave new world

Its managers and designers say it is the human society of the future, but others might see in it a dystopian vision of life shielded in a glass box from an uninhabitable world.  Leading figures behind the Neom city The Line – the boldest of Saudi Arabia’s $1.25 trillion giga-projects – made a coordinated pitch […]

One goal for the kingdom's giga-projects is to 'provide for Saudis and Saudi families'

Saudi giga-projects are going local with new focus

Giga-projects gaining local focus Providing for Saudi families Prices may still be too high for locals A nationalist sensitivity towards the leadership and aims of Saudi Arabia’s massive giga-projects is slowly taking hold, as foreign CEO...

Businessmen watch an on-screen presentation of Saudi Arabia's Trojena project at the Mipim in Cannes.

Neom’s Trojena to launch first apartment sales in new year

The Saudi winter resort of Trojena will begin putting its first residential apartments and villas on the market within a few months, a senior official said on Wednesday, after its parent company Neom announced a new CEO in an effort to reinvigorate the giga-project.  “2025 is very exciting for us at Trojena, we’re hoping early […]

Nadhmi Al Nasr, a veteran of state oil giant Aramco, had overseen Neom since its launch but has now been replaced as CEO Video length: 06:30

Neom replaces CEO in bid to move past negative headlines

Saudi megacity Neom has replaced its CEO Nadhmi Al Nasr in an apparent effort to boost the kingdom’s highest-profile giga-project after a string of delays.  Aiman Al Mudaifer has been appointed “acting CEO of the company”, Neom said in a statement on Tuesday. “Al Mudaifer assumes the leadership of Neom following Nadhmi Al Nasr’s departure.”  […]

Saudi Arabia fans wave flags before a World Cup qualifier in Jeddah. The country is sole bidder for the 2034 tournament

Roshn seeks contractors for Riyadh World Cup stadium

Saudi real estate developer Roshn is inviting expressions of interest from international and local contractors for its 45,000-seat football stadium in Riyadh. Iain McBride, Roshn’s head of commercial, said the Public Investment Fund subsidiary was actively seeking partners “very early in the process” to help “de-risk” the project. “What we don’t want is to design, […]

Saudi Arabia's finance minister Mohammed Al Jadaan on stage at the FII conference. The country's revenue has risen 12%

Saudi Arabia’s deficit rises again as oil output cuts bite

Saudi Arabia’s budget deficit was SAR58 billion ($15.5 billion) in the first nine months of 2024, rising by SAR30 billion in the third quarter alone and confirming predictions of a funding crunch for the country’s giga-projects.  The finance ministry said in October that it expects to post an overall deficit of SAR118 billion this year […]

At-Turaif in Diriyah. Restoration and other projects in the region are now due for completion in 2030

Diriyah delays completion date as projects vie for funds

The historical district of Diriyah, one of Saudi Arabia’s major giga-projects, will be completed in time for the World Expo in 2030 – three years later than previously announced, its CEO Jerry Inzerillo said on Wednesday.  The giga-projects, valued in total at more than $1.25 trillion, are competing for government and private sector resources amid […]

neom private sector deputy CEO Rayan Fayez

Neom raises $24 billion from the private sector

The Saudi giga-project Neom has secured SAR60 billion ($16 billion) in private sector funding and SAR30 billion ($8 billion) in loans as it tries to move away from reliance on government cash. The revelation was made by deputy CEO Rayan Fayez to the Future Investment Initiative forum in Riyadh on Wednesday.  Fayez said: “What we’ve […]

Clothing, Hat, Aircraft

Saudi Arabia pins branding hopes on Riyadh Air launch

Saudi Arabia still hasn’t found the magic sauce for branding its social and economic reforms.  Hopes are high that the launch of Riyadh Air will do for the kingdom what Emirates airline did for Dubai, industry experts say. “We saw the journey of the UAE, how brands started there then became iconic on a global […]

Pony AI says its autonomous vehicles have clocked up more than 33 million km

Neom-backed robotaxi operator Pony Ai files for US IPO

Pony AI, a Chinese autonomous driving company backed by an investment arm of Saudi giga-project Neom, has filed for an initial public offering in the US. The Guangzhou-based company applied to be listed on the Nasdaq stock exchange but did not reveal the size of the offering.  Pony AI operates a fleet of more than […]

Saudi Arabia's Crown Prince Mohammed bin Salman waves during the joint EU-GCC summit in Brussels, Belgium

Energy security at centre of EU-GCC collaboration

The European Union and the GCC held their first summit this week, where they committed to “greater cooperation on energy security, including energy efficiency and renewable energies and hydrogen”, the parties said in a joint statement. The EU wants to strengthen its energy security by cementing ties with the GCC, following European states’ decision to […]

A Neom executive says could be the world’s largest customer for construction materials for several decades

Neom ‘uses one fifth of world’s steel’

The Neom giga-project in Saudi Arabia is currently using one fifth of all the steel produced in the world, an official said on Monday.  The futuristic city will be the world’s largest customer for construction materials for several decades, said Manar Al Moneef, Neom’s chief investment officer. She told the Global Logistics Forum in the […]

Outdoors, Nature, Water

Neom sets up $186m concrete hub for The Line

Saudi Arabia’s Neom is setting up a new ready-mix concrete complex to primarily serve The Line, its desert city. The giga-project developer has tied up with Asas Al-Mohileb, a local construction and engineering company, to establish and operate a SAR700 million ($186 million) green concrete plant, which will produce more than 20,000 cubic metres per […]