NEOM, the forward-thinking region nestled in the northwest of the Kingdom of Saudi Arabia, showcased its revolutionary vision at MIPIM 2024, inviting global stakeholders to participate in shaping a new economic model for the country and the world.
What is NEOM?
NEOM, meaning "new future," is already home to over 2800 individuals from 86 countries, embodying a vibrant community of dreamers and innovators. Positioned as a hub for groundbreaking economic initiatives, NEOM aims to redefine traditional notions of urban living and economic prosperity.
Active Sectors at NEOM
NEOM's sectors span the spectrum of the knowledge economy, encompassing design and construction, education, energy, entertainment, financial services, food, health and wellness, industry, media, mobility, sports, technology and digital, tourism, and water. With several subsidiaries already launched and more in the pipeline, NEOM is set to drive innovation across various industries.
Construction Timeline
NEOM is already under construction, with the first destinations set to go live online in 2024. OXAGON, the centerpiece for advanced and clean industries, will welcome its first residents in 2024, followed by TROJENA, slated to become a bustling hub for living, working, and vacationing by 2026. THE LINE, NEOM's revolutionary linear city, will activate its initial modules in 2026, with plans to accommodate approximately one million residents by 2030, scaling up to nine million by 2045.
Life at NEOM
Far from being just a city, NEOM comprises multiple regions, including THE LINE, Oxagon, Trojena, and Sindalah. This diversity fosters a dynamic lifestyle, underpinned by sustainability, advanced technologies, and economic innovation. With its coastal, desert, and mountain landscapes, NEOM offers an unparalleled environment for work, living, and leisure.
Inhabitants of NEOM
NEOM welcomes residents from all corners of the globe, offering them an attractive lifestyle coupled with robust economic opportunities. Already, a diverse community comprising NEOM employees, their families, and commercial partners from over 80 nationalities call NEOM home.
Financing NEOM
Primarily funded by the Public Investment Fund, Saudi Arabia's sovereign wealth fund, NEOM represents a strategic investment in the country's future, with a commitment of $500 billion USD. Furthermore, NEOM is open to global, regional, and local investors who share its progressive vision.
At MIPIM 2024, NEOM's presence underscored its ambition to pioneer a new era of sustainable development, technological innovation, and economic prosperity. As NEOM continues to evolve, it stands as a beacon of hope for a brighter and more sustainable future. The MIPIM event served as a fitting platform for NEOM to connect with industry leaders, investors, and visionaries, solidifying its position as a key player in the global real estate landscape and a catalyst for future projects worldwide.
The MIPIM, short for "Marché International des Professionnels de l'Immobilier" (International Market of Real Estate Professionals), is an essential event in the real estate and urban planning sector. Every year, it brings together key players in the industry, from investors to developers to government representatives, to discuss current trends and explore future projects. As a leading global platform, MIPIM provides a unique opportunity to discover the latest innovations, forge strategic partnerships, and share visionary ideas that will shape the real estate landscape of tomorrow. This event plays a crucial role in promoting innovative and sustainable projects, thereby contributing to stimulating urban and economic development on a global scale.
