· 4 min read
NEOM is for sale!

With the beautiful beaches of NEOM as a backdrop, watch the excitement unfold and the dunks fly. Electrifying music accompanies the non-stop action, so strap in and enjoy a basketball game like no other – as twelve fierce teams from across the world battle it out over two days.

Earlier this year, Saudi Arabia announced plans to dedicate an $80 billion fund to develop the Neom megaproject, aimed at establishing a futuristic living space in the northwest of the country. This forms part of Saudi Arabia’s Vision 2030, which aims to diversify the national economy and make the country less reliant on its oil revenues. Saudi Arabia plans to develop Neom as a mega clean-energy city on a plot of land the size of Belgium. The space is expected to eventually become self-sufficient and provide a return on investment of between 13 and 14 percent. It will have no cars, roads, or greenhouse gas emissions and will be powered by 100 percent renewable energy, with 95 percent of the land being preserved for nature.

Bin Salman suggested that funds could increase to up to $106 billion if required, with the state investing most of the funds. Neom is expected to be one of the most complex construction developments in the world. Phase one will require $160 billion in funding, with the additional investment being provided through an initial public offering (IPO).

The much-talked-about Neom project will see the 10 regions developed in the northwest of Saudi Arabia. The most ambitious project is called ‘The Line’, two parallel skyscrapers aimed at housing 9 million people, a 170-kilometre building that juts into the Red Sea but is just 200 metres wide. What it lacks in width it makes up for in height at a staggering 500 metres tall, complete with a mirrored facade. If successful, this structure will be a major feat of engineering. The development will also include Oxagon, an industrial city with a manufacturing hub centred around tech industries, to be built on the sea and the mountainous region of Trojena. Neom will include a residential area, an industrial city, and a mountain tourism destination.

The Saudi Crown Prince, Mohammed bin Salman, said, “The designs revealed today for the city’s vertically layered communities will challenge the traditional flat, horizontal cities and create a model for nature preservation and enhanced human livability. The Line will tackle the challenges facing humanity in urban life today and will shine a light on alternative ways to live.”

Foundations for The Line superstructure are already being laid, but many architects are doubtful the building will ever be completed due to the major engineering hurdles. Others question the potential for the project to become net-zero in its lifetime, as pledged by the Saudi government, due to the high carbon emissions expected to be released during its construction. But these criticisms are not dampening Saudi Arabia’s high hopes for the project.

Editor OilPrice.comOctober 28, 2022·4 min read

The Kingdom of Saudi Arabia (KSA) has been attracting international attention for the momentum of its transformation taking place under the Vision 2030 development plan. In 2017, Prince Mohammed bin Salman first unveiled NEOM, KSA’s flagship business and tourism development. Located on the Red Sea coast, NEOM is a central project in the 2030 Vision outlining the Kingdom’s plans to diversify the economy.

NEOM offers unique opportunities and advantages to leading investors and business owners worldwide. It will enable them to gain direct access to both Saudi and global markets, given its unique geographic location linking three continents.

Deloitte has developed the Foreign Investment Advisory center of excellence (‘FIA’) with a view to assist prospective investors throughout their investment journey in KSA. We provide advice on business structures, licensing, workforce planning, immigration, tax and much more.

NEOM is a global transformational programme for SNC Lavalin. To summarise the magnitude of this development in one sentence, NEOM is fourteen times the size of Singapore or precisely the size of Belgium.

It is understood that NEOM in the coming years will be established as an independent region – ‘A country within a country', governed by its own laws and regulations. As one of the world’s most reputed and respected design and engineering solutions providers, SNC Lavalin aims to work side by side with NEOM to build this country and future city of the world one day at a time.

Unrivalled opportunities

Come join us! This is your chance to do something great, starting now, an opportunity to work on some of the most challenging projects out there at scale, an opportunity to capitalise on everything you have learned over the last several years and put all of that learning into effect.

Now is the time to try something new, contribute to the betterment of tomorrow and in doing so achieve your own personal and professional excellence. NEOM envisions to be a Net Zero city by 2030, which complements our decarbonisation plans for the region. This is not just about traditional engineering but about combining creative genius with innovation and technology to provide digital solutions for a better planet. Come join us and work with like-minded people with a growth mindset.

Join the #NEOMAtkinsGrowthTribe.

The glittering images of the envisioned Saudi city NEOM, shared publicly in late July, quickly circulated around various social media platforms. Many commented on the formal and visual similarity the megalomanic vision has to an array of linear-city precedents in the history of architecture, from Michael Graves and Peter Eisenman’s proposal for a linear New Jersey in 1965; to Rem Koolhaas’s infamous graduation thesis, “Exodus, or the Voluntary Prisoners of Architecture” from 1972; or, most obviously, to Superstudio’s late 1960s critique in the form of the Continuous Monument. The slew of images and videos giving architectural form to Mohammed Bin-Salman’s latest lunacy do more than evoke an array of architectural fantasies and propositions. Rather, in ironical fashion they point precisely to a disregard of the history of architecture and bring to mind Karl Marx’s observation on the repetition of world events: “First time as tragedy, and again as farce.”

Indeed, the 170-kilometer long, 500-meter-high, and 200-meter-wide mirrored spectacle of a city, which is somehow supposed to be sustainable and emit no carbon, lends itself almost too easily to criticism, as well as to the observation that much of postwar and Cold War culture is having a strange revival in recent years. Not to be disregarded, these observations point to the inherent nature—and limits—of human imagination, and the difficulty to step beyond certain paradigms of culture and progress. And yet to disregard NEOM as the mere megalomaniac fantasy of an authoritarian ruler would repeat, to some degree, Marx’s observation, this time on the part of the critic.