Construction of Neom Project Costs Over USD 50 Billion
The multi-billion dollar project is set to begin construction later in 2025, project CEO Rayan Fayez said.
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Over USD 50 billion have been spent so far on the Neom region in northwestern Saudi Arabia, according to the project's deputy CEO Rayan Fayez. The project is currently in its excavation phase, and is scheduled to begin construction later in 2025.
The multi-billion dollar project stretches 170 km across the region, which houses diverse climates ranging from beaches to snow-capped mountains. Despite mass-construction, developers hope to preserve 95% of its surrounding natural landscape.
Neom is one of the 14 giga-projects currently built around the Kingdom as part of the Saudi Vision 2030, which hopes to shift the nation’s economy from oil.
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Feb 09, 2025