NEOMA Giga Project of Unparalleled Ambition and Progress in Saudi Arabia

Saudi Arabia is currently undergoing a massive development program aimed at transforming the country into a global hub for tourism, entertainment, and innovation. At the forefront of this initiative is the Neom giga project, which is not only the largest but also the most ambitious project being developed in the kingdom. With a projected value of $500 billion, NEOM is set to revolutionize the way cities are designed and operated, offering a glimpse into a sustainable and futuristic urban landscape.

Overview about NEOM

NEOM is a 33 times larger area than New York City and nearly the size of Belgium. It is designed to be a self-sustaining city that will operate entirely on renewable energy, with a focus on innovation, sustainability, and tourism. The project is divided into several subprojects, each with its unique features and goals. These include:

1. THE LINE: A 170-kilometer-long city designed to be entirely pedestrianized, with no roads or cars. This innovative approach aims to create a city that is efficient, sustainable, and integrated with nature.
2. NEOM Bay: This subproject includes the construction of the airport at Sharma, which will operate regular commercial flights between Riyadh and NEOM. The first residential area in NEOM is also part of this phase.
3. Trojena: A ski resort designed to be a unique tourist destination, offering a variety of winter sports and recreational activities.
4. Sindalah: An island resort that will provide luxury accommodations and leisure facilities.
5. Oxagon: An octagon-shaped port city that will serve as a hub for international trade and commerce.

Key Facts and Numbers about NEOM

• Volume Worth: The total value of the project is estimated to be $500 billion, making it one of the largest single projects in the world.
• Subprojects: The project encompasses several subprojects, each with its own unique features and goals. These include THE LINE, NEOM Bay, Trojena, Sindalah, and Oxagon.
• Companies Involved: The project involves numerous international architecture and design firms, including Zaha Hadid Architects, BIG, Foster + Partners, and LAVA, among others.

How Companies Are Already Capitalizing on NEOM

Numerous international companies are already working on and benefiting from the giga project. These companies are not only contributing to the development but are also reaping the benefits of being part of this ambitious initiative. Some examples include:

1. Foster + Partners: This renowned architecture firm is designing several hotels and other infrastructure within the project. Their designs include a ring-shaped hotel on stilts and a hotel among the Saudi Arabian sand dunes.
2. Equinox: Equinox Resort Treyam will be an architectural spectacle in the project's Magna region, set on a bridge-like structure that spans for about a quarter of a mile and hangs above a desert lagoon, according to a statement.
3. Morphosis: This US-based architecture studio is working on the design of several buildings within the giga project, contributing to the project's innovative and sustainable urban landscape.
4. XCMG Machinery: Chinese construction manufacturing company provided 10 high-capacity rotary drilling rigs to deliver first NEOM’s milestones including XR600E - the largest-tonnage drilling rig deployed in the construction of NEOM city and the largest model exported from China.
5. Webuild SpA: Italian Cement company partners with Saudi Arabia’s Al Jouf Cement Co. to deliver cement worth SR104 million ($27.7 million).

Opportunities for International Companies at NEOM

For international companies considering expanding to Saudi Arabia, NEOM offers a unique opportunity to be part of a transformative project that will shape the future of urban development and sustainability. Here are some ways foreign-owned companies can benefit from the Neom project:

1. Access to a Diverse and Talented Workforce: NEOM aims to attract a diverse and talented community, offering opportunities for international companies to tap into this pool of skilled professionals.
2. Partnerships and Collaborations: The project involves numerous international companies, providing opportunities for partnerships and collaborations that can leverage global expertise and resources.
3. Innovative and Sustainable Solutions: NEOM is designed to be a living laboratory for innovation and sustainability, offering a platform for companies to develop and showcase cutting-edge technologies and solutions.
4. Tourism and Hospitality Opportunities: With its focus on tourism and hospitality, NEOM presents opportunities for companies to develop and manage luxury resorts, hotels, and entertainment facilities.
5. Infrastructure and Construction: The project includes significant infrastructure and construction components, offering opportunities for companies to participate in the development of advanced urban infrastructure.
6. Research and Development: Neom is designed to foster entrepreneurship and innovation, providing opportunities for companies to conduct research and development in areas such as renewable energy, water management, and advanced technologies.
7. Global Recognition and Branding: Being part of the Neom project can enhance a company's global recognition and branding, as it is one of the most ambitious and innovative projects in the world.

NEOM Media Village and Studios

NEOM is rapidly establishing itself as a premier destination for film and television production in the region, highlighted by the NEOM Media Village and Bajdah Desert Studios.

The NEOM Media Village currently features a 2,400 sqm soundstage, with three additional stages under construction and plans for seven more, including a high-tech volumetric production stage. Meanwhile, the Bajdah Desert Studios, located about an hour away, will house two expansive 3,000 sqm sound stages, with four more set to open by the end of 2022.

These state-of-the-art facilities have already supported around 25 productions in the past 18 months, including major international films and series featuring A-list talent. NEOM also offers a 40%+ cash rebate production incentive scheme for feature films, TV shows, and commercials, further attracting global productions.

A notable partnership with Saudi production company Telfaz11 aims to produce nine projects at NEOM, including the epic adventure Al-Gaid. With its world-class facilities and diverse landscapes, NEOM is poised to become a significant player in the global media industry.

Recent Announcements about NEOM

• Completion of underground parking and light rail systems: NEOM has completed the construction phases of its underground parking and light rail systems, marking a milestone in its ambitious zero-carbon initiative.
• THE LINE: The first phase of THE LINE was officially launched by Crown Prince Mohammed bin Salman. This project is expected to create 380,000 jobs in Saudi Arabia and will be a major contributor to the country's economic diversification.
• NEOM Bay: The development works of NEOM Bay's first phase started in the first quarter of 2019. This phase includes the construction of the airport at Sharma and the first residential area.
• Social Responsibility: NEOM invested millions of dollars in 2023 in its social responsibility efforts across the Kingdom - from the distribution of thousands of child safety car seats to free school kits, helping budding entrepreneurs get their businesses off the ground, and tackling graffiti at heritage sites.
• Saudi female filmmakers program with Netflix: Netflix, in collaboration with Sard and NEOM Media Industries, has announced the Saudi Female Future Filmmakers Programme, targeting 15 emerging female filmmakers from Saudi Arabia.

NEOM already marks several milestones completed despite common misconceptions

One common fear among international companies considering expanding to Saudi Arabia is that the giga projects, including Neom, are merely public relations stunts with little actual work done. However, the progress and involvement of numerous international companies already working on the project dispel this notion. The following points highlight the tangible progress and benefits of the project:

1. Infrastructure Development: The construction of the airport at Sharma and the first residential area in NEOM are tangible examples of the project's progress.
2. Partnerships with International Companies: The involvement of renowned international architecture and design firms, such as Foster + Partners and Kengo Kuma and Associates, indicates that the project is not just a local initiative but one that is attracting global expertise and investment.
3. Job Creation: The project is expected to create hundreds of thousands of jobs, which will have a significant impact on the local economy. This is not just a promise but a tangible outcome of the project's development.