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    What The FinanceWhat The Finance
    Home»Investment Ideas»What is the Secret that Makes NEOM so Special?
    The Line a revolution in urban living NEOM
    Investment Ideas

    What is the Secret that Makes NEOM so Special?

    March 28, 2023No Comments6 Mins Read217 Views
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    From the mysterious depths of Saudi Arabia’s Red Sea lies a modern technopolis unlike any other, one that promises to deliver a world of opportunity and innovation unlike anything seen before welcome to NEOM.

    Built from the ground up across 26,500 square kilometers on both sides of the border between Saudi Arabia and Egypt, NEOM stands poised to be a beacon for global progress through its emphasis on sustainability, technological advances, and collaboration. From renewable energy sources to Artificial Intelligence driven education solutions adventure awaits.


    New City in the Making

    NEOM is a new city that is currently under construction in Saudi Arabia. The city is being built from scratch in an uninhabited area of the country and will span an area of 26,500 square kilometers. Not just a city, but a region that’s set to dwarf many major cities around the world in terms of scale. NEOM is being billed as a “city of the future” and will be powered entirely by renewable energy sources.

    NEOM is located in the northwestern part of Saudi Arabia, near the Red Sea. Its massive area is roughly the size of Belgium or a bit smaller than the U.S. state of Vermont. This expansive space provides ample room for innovative urban planning and development.

    The NEOM project, spearheaded by Crown Prince Mohammed bin Salman, continues to be a major focus for Saudi Arabia. With a budget of $500 billion, the project is set to transform urban living, emphasizing sustainability, economic prosperity, and luxury. NEOM is poised to be a transformative venture in urban development for the region, reflecting the Kingdom’s broader goals of economic diversification and technological advancement​

    Opportunities

    NEOM will offer a variety of opportunities for those who choose to live there. The city will be home to a number of businesses and industries, including technology, manufacturing, and agriculture. There will also be plenty of leisure and entertainment options, as well as educational institutions.

    The Saudi government, under Vision 2030, spearheads this project. The goal is to diversify the economy beyond oil, positioning Saudi Arabia as a global hub in trade, technology, and tourism. NEOM is part of this broader strategic shift.

    Beyond its technological and environmental aspirations, NEOM is expected to be a major economic driver. It aims to contribute significantly to the Saudi economy, attracting international investment, creating jobs, and promoting sectors like tourism, entertainment, sports, and biotechnology.

    Innovation

    Neom City From Saudi Arabia

    NEOM’s ambition to become an innovation hub is underpinned by its commitment to cutting-edge technology and sustainable solutions. The city will feature the latest technology, including autonomous vehicles and artificial intelligence. NEOM will also be a testbed for new ideas and concepts, allowing businesses and entrepreneurs to experiment without the constraints of traditional city planning.

    A cornerstone of NEOM’s design is its commitment to sustainability. The plan is for the city to run entirely on renewable energy, primarily solar and wind power. This aligns with global trends towards sustainability and reducing carbon footprints. The city is poised to become a global leader in water technology through its Innovation Hub and Center of Excellence, which will focus on renewably powered advanced desalination, zero waste, and recycled water reuse. Innovations in high recovery membrane technologies, low energy systems, and integration with renewable energy supplies are set to redefine desalination practices.

    Additionally, NEOM aims to pioneer full seawater processing for extracting high-value minerals, use 100% renewable energy for desalination, and implement smart water management technologies to improve water supply and limit leakages. By providing healthy mineralized drinking water directly to consumers, NEOM also takes a significant step toward reducing plastic pollution

    Other plans include the integration of smart city technologies, such as IoT (Internet of Things) devices, autonomous vehicles, and AI-driven services, creating a blueprint for future urban living.

    For Everyone

    NEOM is designed to be inclusive and welcoming to all. While being a technological marvel, NEOM is also designed to be a cultural and social hub, with plans for a cosmopolitan mix of residents and visitors. It’s expected to feature cultural venues, entertainment options, and recreational activities, offering a high quality of life. There will also be a variety of housing options available, as well as public spaces and amenities that everyone can enjoy.

    Futuristic

    As a “city of the future”, NEOM is intended to be a model for other cities around the world. The city’s development is being overseen by an international team of experts, and it is hoped that NEOM will set a new standard for urban living. Once completed, NEOM aims to become a blueprint for how cities are built and operated in the future.

    Norlana Community Announcement

    One of the most recent additions to NEOM is Norlana, an active lifestyle community. This new project, set on the coastline of the Gulf of Aqaba, is designed to house around 3,000 inhabitants across 711 properties. These include mansions, apartments, and beach villas, all integrated into a modern, wellness-focused living environment​​​​​.

    Alongside Norlana, NEOM has announced a series of other luxury-lifestyle focused tourism and residential projects towards the end of 2023. These include Leyja, Epicon, Siranna, and Utamo, all part of the larger vision of NEOM as a hub for futuristic and ultra-modern living. These projects collectively signify the ambitious scale and scope of NEOM, encompassing various aspects of luxury living, tourism, and modern infrastructure​

    Challenges

    Despite its ambitious vision, NEOM faces several challenges. These include the logistical complexities of building a mega-city from scratch, environmental concerns, and the need for substantial investment. Additionally, there have been criticisms regarding the displacement of local communities and the project’s feasibility.

    World Class Destination

    When it is completed, NEOM is expected to be one of the most popular destinations in the world. The city’s unique features and amenities will attract visitors from all over the globe, making it a must-see destination for anyone interested in the future of urban living.

    NEOM is waiting for you, and it might be time to take the plunge. A chance to experience life like never before with its groundbreaking developments and extraordinary features. Whether you’re looking to start a business, explore breathtaking Newgrounds, or relax in untouched luxury, NEOM has something for everyone. Along with this experience are endless possibilities from door-to-door delivery services to unlocking digital potential through robotics and AI integration.

    The city of NEOM promises transformative undertones, iconic architecture, and pioneering lifestyles that will redefine modern living beyond our wildest dreams. It is more than a regional development. It is a statement on the global stage. It represents a shift in economic priorities for oil-rich nations and serves as a testbed for how cities of the future might look and function.

    Author Profile

    Lucy Walker
    Lucy Walker
    Lucy Walker covers finance, health and beauty since 2014. She has been writing for various online publications.
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