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Saudis’ NEOM project – 2 years later

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In recent decades, Saudi Arabia has been continuously taking big steps towards diversification from oil as its sole resource for the sake of both sustainability and economic growth. The Kingdom has wisely expanded its energy goals, notably into the natural gas, nuclear, and renewable sectors. However, the biggest and most costly step they have taken is the $500 billion NEOM mega-city, which has been named “The World’s most ambitious project.”

The construction of this futuristic urban area aims at placing Saudi Arabia at the forefront of the fields of technology, innovation, tourism as well as business-friendliness in the region. In this article, we will present a brief overview of its beginning, give an update on where the NEOM project currently stands, and examine its implications on the economic and geopolitical landscape of the region.

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