Kingdom of Saudi Arabia's NEOM

A Subsidiary Marmore First Take

Kingdom of Saudi Arabia’s NEOM

October, 2017

www.emarmore.com NEOM is a city, which when complete, will urban areas around the world that have generally straddle KSA’s northwest, Jordan and Egypt. evolved over hundreds of years. Thus, the flexibility The world media has wondered what ‘NEOM’ is expected to permit the use of next generation stands for. According to Al Arabiya, the first three technologies and robotics as a keystone of the characters "NEO" is derived from the Latin word project’s infrastructure. It is also envisioned to Highlights that means “new”; while the fourth character "M" encourage a new or idyllic lifestyle that factors is the abbreviation of the Arabic language word human beings’ ambitions and aspirations with “Mostaqbal” that means “future”. state-of-the-art technology.

Overlooking the Red Sea and the Gulf of Aqaba Moreover, NEOM is planned to automate all The Future Investment Initiative (FII) by the array of discussions during the FII, including a from the north and west, NEOM occupies an services and procedures and will apply automation Public Investment Fund of KSA (PIF) held on high-profile Summit on Artificial Intelligence area of 26,500 square kilometers, along with a to legal, governmental, investment, and other 2 24 - 26 October 2017, is a global investment (AI) and Robotics . 468-kilometer waterfront. To the east, NEOM is services or activities. A large number of robots, event attempting to connect the world’s most surrounded by mountains that rise to a height of perhaps even exceeding NEOM’s human influential investors, various business leaders, During the FII event, the Kingdom’s Crown 2,500 meters. The project includes areas within population, is expected to carry out repetitive and multiple thought leaders and Saudi public Prince Mohammed bin Salman bin Abdulaziz the Egyptian and Jordanian territories, making it arduous activities—possibly making NEOM’s per officials with the innovations that are defining announced the NEOM project. The project the first private zone across the borders of three capita GDP the highest in the world. The overall 1 the future of work and economic development . that will focus on nine specialized investment nations3. project is divided into two phases: Global CEOs, along with leading experts and sectors is valued at over USD 500bn by the PIF. government officials, participated in a broad Access to the Red Sea, via which over 10% of the Phase 1 (2019-2025): According to the current plan, global trade passes, is a significant feature of the main pillars for the NEOM project will be laid out by project. About 70% of the global population can the last quarter of 2019— with the general strategy Figure: The NEOM Project access the site within eight hours. It is anticipated defined, institutions and city council responsible

that NEOM’s location and economic significance for its development set up, lead investors will be enhanced because it is the principal anchored, initial master plan development, and entrance to the King Salman Bridge that will works around the basic infrastructure launched. link KSA with Egypt. NEOM aims to develop key economic sectors for a sustainable future. Nine Phase 2 (2025 and beyond): At this stage, the priority economic sectors have been identified by project focus will be on sustainable growth the Kingdom as part of NEOM. They are energy; of identified nine sectors. NEOM will hope to transportation; food; technical and digital science; accomplish its aim of being a global model for advanced manufacturing; biotechnologies; living human living and technological innovation. (housing, education, healthcare, etc.); media; and entertainment. The NEOM project enjoys an exceptional strategic advantage at the confluence of Asia, Europe and The NEOM special economic zone will be a Africa. It now remains to be seen whether the Greenfield project built on untouched or raw project will become the center of the economic

land, differentiating it from other projects and future that the PIF wishes to support for the KSA. Source: Associated Newspapers Ltd

1 Public Investment Fund 3 Saudi PIF 2 Saudi Press Agency

2 Marmore First Take - Kingdom of Saudi Arabia’s NEOM www. emarmore.com 3 Disclaimer

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