The project team of Saudi Arabia’s $ 500 billion Neom project will start working on-site in the ‘next […] month’ for the construction to start and development director Nadhmi Al-Nasr approved.

In an Arabic language statement from the state news agency SPA, El Nasr said that the construction of Neom, one of the largest construction projects in Saudi Arabia, is proceeding as planned, and that construction work will begin “in the next few months.”


El Nasr spoke on the side lines of the bir Neom Dream mücadele contest – an initiative that seeks innovative ways to tackle global challenges in energy, health, sustainability, environmental issues, and Technology between the Neom and the Muhammad bin Salman bin Abdulaziz Foundation (Musk).

Seventy-four Saudi men and women participated in the competition. The winners of the first place received $ 66,781 and second and third place received $ 426,710 and $ 13,356.

The State Investment Fund – Neom, led by Crown Prince HRH Mohammed Bin Salman, the sovereign wealth tool of Saudi Arabia – matches the long-term aspirations of the kingdom with 16 economic sectors.

El Nasr’s statement came three months after the SPA announced that the Neom Founding Board, chaired by Crown Prince, approved the strategic concept of the master plan in the Gulf of Neom, the first urban area to be developed within the project.

The state news agency said the board “gave instructions to complete preparations and start construction work in the first quarter of 2019”.

Source: Contruction Week

Melike Vodina / realesatecoulisse.com