The Word “NEOM”
The name “Neom” is constituted from two words, the Latin prefix (Neo) means “New” and from the abbreviation of Arabic word Mostaqbal (Future), Neom is the New Future.
Neom City Location and Its Cost and Outlook
The proposed cost of the NEOM city will amount to $500 billion. Saudi Arabia, Jordan and Egypt, they share their geographical location which leads to a particular zone as a hub called NEOM. NEOM city is found in the Northwestern region of Saudi Arabia, its covered area is approximately 10,000 square miles (26,500 square km).
The city will be bigger than Dubai and will be having robots more than humans. It is believed that NEOM city will have incomparable looks the entire new land will definitely have a new way of living as well.
The project includes a bridge spanning the Red Sea, connecting the proposed city to Africa.
Completion of the Project “NEOM City”
According to Saudi Press Agency, The Kingdom of Saudi Arabia plans to start work on the project in the first quarter of 2019. Phase 1 will be completed by 2020.
The NEOM project is expected to be completed by 2025, however, due to unforeseen circumstances can face several delays as well. Read: Ministry of Transport Considering 30 Daily Trips for Haramain High Speed Train
NEOM Project – Resource to Strengthen the Economic Dynamics of the Kingdom of Saudi Arabia
NEOM project area is economically quite significant and is going to focus on several areas which can ultimately lead to the economic growth of the Country. Some of those areas are listed below:
- Industries (including energy and water).
- Better Resources for Food.
- Advanced Manufacturing.
- Culture and Fashion.
Other Benefits of NEOM City Saudi Arabia
It will for sure help to clinch international markets and trade routes as the 10% of the world’s trade flowing through the Red Sea of KSA Connecting Asia, Europe, Africa and America, this zone is also rich in Oil and Gas so greatly profitable entities are presumed to participate and resulting in the growth of overall economy. Read: Saudi Women drivers to start driving family taxis
Incentives and Opportunities Due to Building of NEOM City Saudi Arabia
NEOM city contains exceptional financial incentives, bizarre opportunities and advantages to leading investors and business owners worldwide, with the aim of stimulating GDP growth in the Kingdom. The NEOM project is huge earnings for Saudi Arabia expected to transform the luck of the Kingdom into a leading global reform and trade hub.
NEOM City is a Contributing Portion of Saudi Vision 2030
Saudi Vision 2030 seen by the Crown prince Mohammad bin Salman (MBS), to witness his country developed into a productive model of excellence can only be pragmatic (Practical) if Kingdom’s GDP will increase and that will happen when a country’s digital sectors, business environment, foreign investments will progress and by getting a vibrant destination that adopts technology hence they are working on NEOM project and Crown prince deserves much credit, support and respect for having the courage to pursue a bold vision as NEOM city which can sort out all of the socioeconomic issues of KSA.
NEOM Project– Will Lead to Following Betterment
- An admirable future of energy and water with the capacity of energy storage.
- Construction of seaports, airports, autonomous transport vehicles/drones etc. as a result of mobility of the goods and the products.
- It will also include the future of biotech which leads to the human biotechnology, and pharmaceuticals manufacturing.
- Future of advanced manufacturing leads to new technology in 3D printing and robotics and in a field of media production leads to the development of the television and film industry, the video gaming industry and digital content as well.
- A favorable business environment and high-quality education system，Comfortable housing and facilities for everyone leading to a safe, secure, and stable society.
- Government services will be fully automated and most easily accessible to its residents which can be called E-Government.
- NEOM city will provide its residents “digital air”, free highest-speed internet and free online continuous education at their fingertips.