Construction to start soon at Neom Bay
01 February 2019
Saudi Arabia’s Public Investment Fund (PIF) said its founding board has approved the masterplan for Neom Bay, a eco-friendly tourist destination coming up within its $500-billion futuristic city, Neom.
With all the preparations completed including the greenlight to the masterplan, the construction work is set to start in the first quarter of 2019, reported the Saudi Press Agency.
It is expected that a number of key facilities will be completed by the end of this year including the current airport at Sharma, which will be upgraded to become a commercial airport operating regular flights between Riyadh and Neom.
Phase One of Neom Bay, the first urban area to be developed in Neom, will be completed in 2020, it added. The luxury tourist project will focus on improving health and well-being for its residents, offering next-generation technologies in mobility and creating an intelligent urban ecosystem with advanced infrastructure, said the report.
Commenting on the key step, Neom CEO Nadhmi Al Nasr said: “This year will be a milestone in Neom’s journey. We are now preparing for the development of Neom Bay area, which will provide a new concept of urban living that will enable it to become a platform for attracting the world’s top minds for creating advanced economic sectors.”
“The strategy of developing Neom Bay will rely on four key pillars: to provide a living experience and an ideal quality of life for families; to create a high-end lifestyle and a luxurious tourist destination; the third and fourth pillars are to support both innovation and creative centres.
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