The Lowdown On The World's Most Contentious Megaproject

Constructed in the Saudi Arabian desert, Neom is an incredible urban development that is reminiscent of science fiction. A mind-boggling megaproject consisting of ten future areas, nearly the size of Belgium, was announced in 2017 and is estimated to cost 1.5 trillion dollars (£1.2tn). A mirrored linear megacity with a planned population of nine million, The Line (shown) is one of them. The ambitious project, however, may be in jeopardy, according to recent reports, with plans for The Line in particular facing the possibility of falling through.

Neom Launches

In October 2017, at the Future Investment Initiative conference in Riyadh, Neom was introduced with tremendous enthusiasm. The massive project, which is purportedly carbon neutral, is a part of a larger effort to diversify Saudi Arabia's economy and wean the country off on oil, which accounts for the majority of its exports and government income. Crown Prince Mohammed bin Salman is the leader of Neom and the main proponent of Saudi Arabia's fossil fuel-free transition.

Saudi Vision 2030

The massive undertaking began with the Saudi Vision 2030 initiative, which bin Salman introduced in January 2016. This comprehensive strategy to lessen the country's reliance on oil has spurred modernizing social changes, such as extending women's rights, liberalizing the economy of the traditionally conservative nation, and drawing in international capital. Through a series of megaprojects, the program hopes to promote the tourism, renewable energy, sports, entertainment, hi-tech manufacturing, and other potentially profitable sectors. Neom is the premier product for urban areas.

What's in a Name?

The megaproject received up to 2,000 names from experts before the board of directors whittled it down to one from a shortlist of 150. Neom translates to "new future" in portmanteau form.  The first three letters represent the Ancient Greek prefix "neo" (meaning "new"), while the letter "m" represents the Arabic word "mustaqbal" (which means "future"). An additional benefit? Additionally, the Crown Prince's first name begins with that letter.

Neom's Independent Status

Neom will have its own economic zone, judicial system, tax and labor rules, and operate as an autonomous nation outside of the conservative Saudi state. It will even launch its own airline. The Saudi leadership is eager to establish an ostensibly liberal utopia that will draw the elites of the world and, more crucially, their capital.

Neom's Financing

The $1.5 trillion (£1.2 trillion) megaproject's financing is no small accomplishment. The Saudi Arabia Public Investment Fund is contributing around half of the $320 billion (£252 billion) needed for the project's first phase, which is expected to be completed in 2030. All of this money is essentially what the country has made from exporting fossil fuels. The remaining cash is anticipated to come from foreign investors, including Middle Eastern sovereign wealth funds, and Neom's earlier-scheduled initial public offering (IPO). For the megaproject and Saudi Vision 2030 as a whole to succeed, luring in international investment is imperative.

Neom's Big-name Collaborators

In order to enhance the megaproject's legitimacy, the Saudi government has splurged on employing the world's best and brightest to create and implement Neom. The urban development is being undertaken by some of the top architectural firms in the world, such as US powerhouse Morphosis, Denmark's BIG, and the UK's Zaha Hahid Architects. The heavyweights of engineering, Parsons and Atkins, have also committed. Renowned Hollywood art directors, such as Olivier Pron from Guardians of the Galaxy and Nathan Crowley from The Dark Knight, have even been tasked with producing the jaw-dropping renderings.

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Neom's 10 Regions

Neom will be made up of ten zones spread across an amazing 10,600 square miles (26,500 km2) in the Tabuk Province in northwest Saudi Arabia, which borders the Red Sea and the Gulf of Aqaba. The location is approximately the size of Belgium and roughly the size of Albania. A floating industrial port city, an island beach resort, a mountain ski resort, a "ultra-luxury upside-down skyscraper," and The Line, a mirrored linear metropolis, are among Neom's proposed areas. The last is likely the project's most ambitious and costly component. According to the marketing blurb, all areas are supposedly focused on sustainability and conservation and are powered exclusively by renewable energy. As we'll soon find out, many have questioned Neom's environmental credentials. Prior to start, though, let's examine the ten new areas that will permanently alter the landscape of the desert.

Sindalah

Sindalah is the first of ten areas to be completed, with an opening date set for later this year. By 2028, 2,400 visits a day are anticipated. The seahorse-shaped artificial Red Sea Island, designed by ultra-luxe Italian yachting design group Luca Dini Design and Architecture, is billed as a playground for the world's jet set. Aiming to become a worldwide center for superyachts, the four million-square-foot (371,612m²) island is home to three luxurious hotels, a nine-hole golf course, and an exquisite marina and yacht club. This is on top of a wellness center, an Olympic-sized pool for sports training, upscale shopping, fine dining, and more.