The metropolis overlooking the the Red Sea to the south and the Gulf of Aqaba to the west, will be backed by more than $500bn from the kingdom’s coffers, investments by its sovereign wealth fund Public Investment Fund (PIF), and local as well as international investors. So ultimately, NEOM is to be investor owned, the first ever listed metropolis, though the Kingdom will be the majority owner. Part of the Alarm Media entertainment & business network. It’s an attempt to do something that’s never been done before and it comes at a time when the world needs fresh thinking and new solutions. The NeomZone site shall not be re-transmitted, printed, lent or otherwise circulated without the written permission of the copyright holder, and shall not under any circumstances have these conditions waived for any recipient. Saudi officials describe NEOM as ‘the world’s most ambitious project’. Updates provided by the kingdom state that the project has “entered the first phase of actual development” after the acceleration of preparation works to develop infrastructure for Neom’s initial residential area. All content on this site is independent and has no connection with the Kingdom of Saudi Arabia. "The new joint venture is also expected to help HanmiGlobal to take part in the country's mega-city Neom project worth of 550 trillion won and the tourism complex project integrating 50 islets on the Red Sea.". This could reach $100 billion per annum by the year 2030 around the time when a grand listing of the project will be contemplated. It is a vision of what a New Future might look like. … NEOM will be primarily owned by Saudi Arabia's sovereign wealth fund – the Public Investment Fund (PIF) – its initial value will exceed $500 billion and independent investors are invited to participate. Mr Son had been a guest at the Future Investment Initiative. The right of David Tyrer to be identified as the author of this work is asserted in accordance with the Copyright, Designs and Patents Act 1988. Siemens believes it has important capabilities which can add great value to the project. NEOM will serve to anchor the western end of the New Silk Road. NEOM is established as a closed joint-stock company on January 22, 2019, fully owned by the Public Investment Fund of Saudi Arabia (PIF). Saudi Arabia is starting construction on NEOM, its city of the future, in 2020. The company is wholly owned by the $350 bn Saudi sovereign wealth fund, the Public Investment Fund (PIF). The closed joint-stock NEOM Company will be fully owned by the Public Investment Fund and develop NEOM, the planned $500 billion mega-city. NEOM, which was announced in 2017 and is in a pristine position on the Red Sea coast, has financial support of over $500 billion from the Public Investment Fund of Saudi Arabia. Saudi-Arabië is bezig met de bouw van een megastad met de naam Neom. Our investment approach relies on the opportunistic value of business ideas, but we also attentively look at sustainable growth as a key driver to maximize our exit strategies, as well as the social and cultural impact within our communities. ... NEOM, a new region in North West KSA, which will be built as a living laboratory, is focusing on developing a number of industries, and is expected to contribute over US$100 billion to GDP based on 1 million residents. Thousands of companies, large and small, will collaborate in NEOM. We’ve been gradually increasing our presence in the Middle East…". [Reliable & sustainable energy, transport networks, safety, water and smart buildings.] "The Russian Direct Investment Fund (RDIF) wants to be a co-investor with other international funds. “NEOM is … Handed $40 billion earlier this year to buy global stocks, the Public Investment Fund will plough the same amount into the domestic economy next year and again in 2022. The $500 billion price tag, to be covered by the Saudi Public Investment Fund, will not be enough for the 26,500 sq.km of the NEOM project to be completed. Neom Zone may well provide a significant blank canvas for innovation in the energy space. ", " 'These are the five major elements of a city and we have them all together. The UAE's sovereign owned Mubadala Investment Company has long considered that its activities should go beyond simply making wise investments – its activities should also benefit Emirates' society. NEOM … It has a prior history of commercial involvement with Saudi Arabia (and the Gulf Region) and is preparing to gear up to advance this relationship. "For more than 46 years [as at 2017], the PIF has been a leading economic player and has contributed to the development of national investment entities constituting the foundation for overall development, while contributing to the establishment of many of the largest companies in KSA [Kingdom of Saudi Arabia]. The source of Neom’s funding represents a primary concern for Neom’s management team. With $500 billion in funding from the Saudi Public Investment Fund and a number of international investors, the city is one of the key elements of Saudi Arabia’s economic diversification strategy. NEOM Investment Fund. "ZURICH: ABB is confident of winning a slice of the $500 billion mega-city project in Saudi Arabia…", "ABB, with three factories and a long history in Saudi Arabia, is well positioned to provide automation and power to high-tech industries setting up in the country, Spiesshofer [CEO Ulrich Spiesshofer] told reporters…", " 'There's a wide range of opportunities and we will do our best to participate in that in the appropriate way,' Spiesshofer said.". The Russian Direct Investment Fund (RDIF) announced its intention - along with major Russian companies - to participate in the construction of the future city project (NEOM), which was announced by Saudi Crown Prince Mohammed bin Salman earlier this week. Mohammed bin Salman described the project’s investors as “the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, local as well as international investors.” The Public Investment Fund currently manages approximately $230 billion, but the delayed Aramco IPO dashed … It is also highly skilled in automating industrial processes on a large scale. Construction activity is progressing on Neom, Public Investment Fund’s (PIF) $500bn (SAR1.9tn) gigaproject along Saudi Arabia’s Red Sea coast. USPTO Trademarks › Public Investment Fund › Neom Application #87657506. NYU Stern School of Business. ", (Adel Al-Jubeir is the Foreign Minister of Saudi Arabia.). Russian companies are likely to invest billions in technology and infrastructure projects in the zone. Neom (Arabisch: نيوم Niyūm) is een Saoedisch project voor de ontwikkeling van een slimme en toeristische grensstad. Text, content and information presented on this site is for entertainment purposes only and does not constitute legal advice or any other form of advice, and is solely intended as analysis and opinion. The goal of the event was to connect many of the world's thought leaders, experts and entrepreneurs to discuss the rapid innovations that are shaping our future, share advanced perspectives, explore the changing role of sovereign wealth capital, and learn about Saudi Arabia's dramatic reform agenda. Indeed, if Neom Zone is floated one day according to plan, history will truly be made. ", "Other Mubadala investments – in aerospace, for example – led to the creation of manufacturing facilities and real jobs in the UAE for Emirati citizens. ". Click as a Flash's registered Australian Business Number is ABN 62 188 088 529. DISCLAIMER AND COPYRIGHT NOTICE. Geographic Advantages . Developing the technology to create energy-neutral or even positive buildings is obviously a wise aim in countries with hot climates. Saudi Arabia is building a futuristic mega-city called Neom deep in a desert bordering the Red Sea. ABB's website describes the company as the world's largest supplier of industrial electric motors and manufacturer of transformers. NEOM Bay. NEOM’s contribution to the Kingdom’s GDP is projected to reach at least $100 billion by 2030. Privacy Policy(function (w,d) {var loader = function () {var s = d.createElement("script"), tag = d.getElementsByTagName("script")[0]; s.src = "//cdn.iubenda.com/iubenda.js"; tag.parentNode.insertBefore(s,tag);}; if(w.addEventListener){w.addEventListener("load", loader, false);}else if(w.attachEvent){w.attachEvent("onload", loader);}else{w.onload = loader;}})(window, document); NEOM will be backed by more than $500 billion over the coming years by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, as well as local and international investors. Any brand names mentioned on this site are trademarks or registered trademarks of their respective owners. Saudi Arabia has set up a closed joint-stock company, called NEOM, that aims to develop a $500 billion economic zone and which will be owned by the government’s Public Investment Fund … Many photos are of images outside Saudi Arabia and are used to represent themes and ideas. NEOM banks on private as well as public investments and partnerships. "The blueprint also [in addition to increasing non-oil revenue, structural reforms and privatizations] aims to increase foreign direct investment and the private sector contribution to gross domestic product. He said that the world may be entering a "Post Columbus period". According to the RDIF, the fund and its partners will facilitate the participation of Russian innovation companies involved in the solar energy, health, education, AI, transportation, and port infrastructure sectors. The largest property developer in Saudi Arabia, Al Akaria, has formed a joint venture with HanmiGlobal Co., South Korea's leading construction management company. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia.It is among the largest sovereign wealth funds in the world with total estimated assets of $382 billion. MBS spoke of a new type of capitalism, seemingly based on … NEOM is established to attract new foreign direct investment, contributing in the long-term to Saudi Arabia’s growth strategy. Construction activity is progressing on Neom, Public Investment Fund’s (PIF) $500bn (SAR1.9tn) gigaproject along Saudi Arabia’s Red Sea coast. NEOM, which means ‘new future’, was announced in 2017. Besides the development of business ties – defense, archaeology, tourism and culture were high on the agenda. “The Russian Direct Investment Fund plans to invest alongside a number of international funds and to bring Russian companies to participate in the construction of the NEOM project,” adding that such move would reinforce the expansion of leading Russian companies and their innovative technologies in the promising markets of Saudi Arabia and in the Middle East in general. The state has pledged at least $500 billion to make it happen, and is soliciting further investment. © 2017-18 David Tyrer   All rights reserved. Saudi Arabia is building a futuristic mega-city called Neom deep in a desert bordering the Red Sea. NEOM Public Investment Fund. The newly-established entity is fully owned by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia and is responsible for achieving NEOM's vision, which is to be the land of the future, where the greatest minds and best talents are empowered to embody pioneering ideas and exceed boundaries in a world inspired by imagination. Jean-Pascal Tricoire called for the public and private sectors to collaborate on this "ambitious and productive challenge". Further, the Vision Fund has already signalled an interest in making a large investment in Saudi Electricity. ", "SoftBank aims to deploy up to $15 billion in a new city called Neom… the people said, asking not to be identified…", "SoftBank also will have some of its portfolio companies open offices in Neom, they said.". The zone is projected to make a major contribution to Saudi Arabia's GDP in the long term. Speaking exclusively to Construction Week, the chief information security officer at Saudi Arabia’s Public Investment Fund-backed (PIF) flagship gigaproject NEOM, Mike Loginov, says: “What makes a city or a building ‘smart’ is a combination of complex factors that once integrated and functioning in harmony form a ‘smart’ ecosystem. Application Filed: 2017-10-24. Jordan is reported to have granted permission for the establishment of the Saudi-Jordanian Investment Fund. This site is a sister site of BrandableDomain.com – hand curated brandable domains for sale to business and startups. ", Public Investment Fund (pif.gov.sa – Official website). NEOM | 257,209 followers on LinkedIn. Copyright in some images resides with various photo libraries. The approximate project budget is SAR 2 trillion. The Public Investment Fund (PIF) was established in 1971 as the sovereign wealth fund of the Kingdom of Saudi Arabia. The closed joint-stock NEOM Company will be fully owned by the Public Investment Fund and develop NEOM, the planned $500 billion mega-city. We establish protective and disciplined investment frameworks that ultimately improve the effectiveness and integrity of creative processes, ... •Fund structuring and management •Business and IP Development ... info@neom.ventures. Copying is solely permitted for personal use. Saudi Arabia’s Public Investment Fund (PIF) has announced that its founding board has approved the masterplan for Neom Bay, an eco-friendly tourist destination that is being developed within the $500 billion futuristic city of Neom. According to NEOM CEO Nadhmi al-Nasr, construction will begin this year (via The Arab Weekly). NEOM will be backed by more than $500 billion over the coming years by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, as well as local and international investors. "We have plenty of opportunities but that's [Neom] a very exciting, inspiring project, and we would love to participate in it…", "We've increased our investment in Dubai and Saudi [Arabia] every year, and we intend to be here for the long-term. An Accelerator of Human Progress | NEOM is a bold and audacious dream. The giga-project has had an investment of $500 billion from the Public Investment Fund (PIF).. Go Fund Neom. The project NEOM will attract private investments and governmental investments and partnerships and it will be supported by more than $ 500 billion in the coming years by the Kingdom of Saudi Arabia, Public Investment Fund, as well as local and international investors. The fund has the right to own, develop, operate, manage and … Further, Neom Zone ports are seen as having the potential to become important hubs to facilitate increased exports of Russian agricultural produce to Saudi Arabia and other Gulf countries. " It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. Germany's Siemens is already having serious discussions about its future involvement with NEOM. But now, we may be returning to a modern version of the "Silk Road" which began in Arabia and ended in the Middle Kingdom – leading to the dawn of a "Post Columbus economic structure". * PIF acquired 38 percent of POSCO, a South Korean steelmaker, in February 2015, in a deal worth $1.36 billion. Neom Zone will provide limitless opportunities for the talented dreamers of all nations. Every effort will be made to create a positive and supportive business environment. Saudi Arabia’s Public Investment Fund, which will partially fund the project, said NEOM would be a gateway to the proposed King Salman Bridge that will link Egypt and Saudi Arabia. Trademark Application Details. According to NEOM CEO Nadhmi al-Nasr, construction will begin this year (via The Arab Weekly).NEOM, which means ‘new future’, was announced in 2017. Air Products is a leading producer of … I consent to neom-property.com collecting, storing and using my data from this form in line with the guidelines set out in the Privacy Policy. Thank you for your interest in being a part of shaping that New Future. (adsbygoogle = window.adsbygoogle || []).push({}); In its official announcement by HRH the Crown Prince Mohammed bin Salman, the grand project was titled: NEOM – The Destination for the Future NEOM project has obtained the necessary approvals from the official authorities in the Kingdom to establish a closed joint stock company under the name of “NEOM Company” with fully paid up capital and owned by the Public Investment Fund.. 'The Russian Direct Investment Fund (RDIF) wants to be a co-investor with other international funds. As Arab News put it, they "see themselves as much as agencies of economic and social change as they are investment houses. The initiative to create a knowledge environment is based on three pillars: Among the more than 3,500 guests were luminaries such as Christine Lagarde (International Monetary Fund), Masayoshi Son (Softbank), Larry Fink (BlackRock), Tong Li (Bank of China International), Lawrence Summers (Harvard University), Khaldoon Khalifa Mubarak (Mubadala), Arianna Huffington (Thrive Global) and Sophia Robot (Hanson Robotics). Making the entire chain of electricity digital can likewise create significant efficiencies. Its goal is to transform the Kingdom's economy and reduce its dependence on oil revenue. Het project is onder meer bedoeld om … For further information and to follow the development of NEOM, please visit NEOM.com Saudi officials are looking for the remainder of the funding through foreign investment. "SoftBank Group Corp. plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter. Schneider Electric has pointed out that smart systems to switch off air conditioning etc when not in use (compared to humans doing so manually) can result in surprisingly massive savings. This is where the startling announcement of NEOM was made. Join to Connect. An Accelerator of Human Progress | NEOM is a bold and audacious dream. The Saudi government, the PIF and local and international investors are expected to put more than half a trillion dollars into it … Executive Director, NEOM Investment Fund NEOM ‏يناير 2020 - الحالي 11 شهرا. The Siemens CEO has noted that the UAE understood decades ago that it must begin preparations for a post-hydrocarbon future. NEOM will be funded by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, local as well as international investors How much is the cost of NEOM? Legal Note: This document is not an official Neom Inc., Saudi Vision 2030 or Public Investment Fund of Saudi Arabia sourced document.The information contained in this document is from published news about Neom from trusted public Internet sources. Investors, businessmen and innovators will be consulted in every step on the way to create the best economic framework, design urban plans, and attract top quality talents that will drive the growth of this zone and its residents. Schneider Electric already has three manufacturing plants in Saudi Arabia. Saudi Arabia has set up a closed joint-stock company, called NEOM, that aims to develop a $500 billion economic zone and which will be owned by the government’s Public Investment Fund … Overlooking the Red Sea and the Gulf of Aqaba, NEOM occupies an area of 26,500 square kms, along with a 468-km waterfront according to its website. The artistic integrity of the work contained herein may not be altered or repurposed in any way, shape or form without the express written permission of the copyright holder. 'People in the kingdom know what Siemens is all about.' Welcome to the hub for all the latest information and updates about NEOM Saudi Arabia! NEOM is a new destination being created in the Northwest of Saudi Arabia. Other factors that will undermine Riyadh’s ability to finance NEOM and other pillars of Vision 2030 include the Saudi Aramco IPO’s recent setbacks and the costly quagmire in Yemen. It is set to become a new vibrant destination located in the Northwestern region of Saudi Arabia. ...about NEOM's world class opportunities in Real Estate and Property Investment in Saudi Arabia. Investment Partner at NEOM Investment Fund Greater New York City Area 500+ connections. Situated on 468 km of coastline in the north west of Saudi Arabia, and strategically close to the Suez Canal, NEOM will form the world's largest project. NEOM’s location is undoubtedly unique and has got the potential to … NEOM will be backed by more than $500 billion over the coming years by the Public Investment Fund of Saudi Arabia, as well as local and international investors. Prior to the NEOM announcement, Softbank's Masayoshi Son had already formed close ties with Saudi Arabia, having raised $45 billion from the Kingdom's Public Investment Fund for its Vision Fund. The Russian Direct Investment Fund (RDIF) has announced their participation in Saudi Arabia’s NEOM programme, which the kingdom has billed “the city of the future”. "The investment case for NEOM is actually very easy to make, because we've got so many things going for us," he said during the FDI panel, adding that the interest in … NEOM was first unveiled by Prince Mohamed at a Public Investment Fund (PIF) ... Read more: Saudi’s crown prince to double SoftBank investment, hopes for first NEOM town in 2019. 'I would not be too surprised if anytime soon, there would be a major announcement about the cooperation between the kingdom and Siemens on how to assist and help the kingdom in achieving the Vision 2030 goals, which Neom is part of,' he [Joe Kaeser, Siemens global CEO] said. The company, wholly owned by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund with an estimated asset of $383 billion, is to develop the city’s economic zone. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. In addition to domestic and foreign investors, the Saudi government will back NEOM with more than $500 billion, and the kingdom’s sovereign wealth fund — the Public Investment Fund (PIF) — will support the futuristic project. While a 7 percent annual return on PIF’s investment in the Vision Fund - around $1.47bn a year - was a motivator for investment, “it probably wasn’t the big reason. Last month, NEOM signed a $5bn agreement with Air Products, a US company, and ACWA, a Saudi company 40% owned by the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to develop a renewable energy project. To aid this process, measures are being introduced to improve the business environment, to restructure the economic cities, to create special zones and to deregulate the energy market to make it more competitive. In late 2017 CNBC reported that Schneider announced a commitment to 100 percent renewable energy by 2030. (Supplied: NEOM) Updated 05 February 2019 . It is set to become a new vibrant destination located in the Northwestern region of Saudi Arabia. All images, text, content, movies, animations and audio are presented for viewing purposes only and may not be repurposed in any shape or form. There is no other company in the world, not a single one, which can do all five in a meaningful way, except Siemens,' he said. Copyright in many photos or montage sources resides with istockphoto™. ", "It [Mubadala] often insisted on elements of technology transfer and local job creation as part of its investment strategy. NEOM, which was announced in 2017 and is in a pristine position on the Red Sea coast, has financial support of over $500 billion from the Public Investment Fund of Saudi Arabia. Neom (styled NEOM; Arabic: نيوم ‎ Neom, Hejazi pronunciation: [nɪˈjo̞ːm]) is a planned cross-border city in the Tabuk Province of northwestern Saudi Arabia.It is planned to incorporate smart city technologies and also function as a tourist destination. NeomZone™ is a trademark of Click as a Flash™. The company, wholly owned by the Public Investment Fund, Saudi Arabia’s sovereign wealth fund with an estimated asset of $383 billion, is to develop the city’s economic zone. Expected to emerge as a leading global hub that heralds the future of human civilization by offering its inhabitants an idyllic lifestyle, NEOM seeks to attract top quality talent from around the world to push the boundaries of innovation like never before, and drive the growth of this zone and its residents. "NEOM will operate as an independent economic zone – with its own laws, taxes and regulations specially created to boost healthy growth and wealth for the region, investors and residents.". The PIF has financed many strategic projects to support the economy, promote a national economic transformation and achieve the objectives of the Kingdom's long-term Vision 2030 plan. The first NEOM window on the world, contains pristine white beaches, a temperate climate, and an attractive investment environment driven by the Public Investment Fund (PIF) with more than $500 billion as well as local and international investors.. (Supplied: NEOM) Updated 05 February 2019 . ", "It is hard to imagine Saudi Arabia ever ending its love affair with oil, but there is a similar radical process at work in the thinking of the Public Investment Fund, the once-sleeping government pensions agency now turned dynamic global investor in cutting-edge sectors such as technology, robotics and artificial intelligence.". Within the framework of Saudi Arabia's Vision 2030, The Saudi and Italian Foreign Ministers co-chaired a meeting in Rome in December, 2017 with numerous prominent businesses from each nation represented. With imagination and inventiveness as its cornerstones, the plan is described as "unconstrained by history" by DiscoverNEOM. Report this profile; Activity. The $347bn sovereign investor is a key lever for the kingdom’s de facto … NEOM project has obtained the necessary approvals from the official authorities in the Kingdom to establish a closed joint stock company under the name of “NEOM Company” with fully paid up capital and owned by the Public Investment Fund.. ", Future Investment Initiative (Official website). "HSBC's CEO Stuart Gulliver confirmed the bank's interest in significantly financing the massive NEOM project, highlighting the economic benefits of this project across the region and the world.". Updates provided by the kingdom state that the project has “entered the first phase of actual development” after the acceleration of preparation works to develop infrastructure for Neom’s initial residential area. Apart from any fair dealing for genuine review purposes (which must include the URL: neomzone.com) no part of this site may be reproduced or transmitted in any form whatsoever without the express written permission of the copyright holder. The fund has already committed $20 billion to an infrastructure investment fund with Blackstone Group LP and as much as $45 billion for a technology fund run by SoftBank. ABB, with its four divisions (Electrification Products, Robotics and Motion, Industrial Automation and Power Grids) has the appropriate technology and experience for a big participation in NEOM. "He [Italian Ambassador Luca Ferrari] said that the Italian companies could play a major role in the development of Neom city, especially in the area of robotics and information technology. NEOM | 257,209 followers on LinkedIn. In its official announcement by HRH the Crown Prince Mohammed bin Salman, the grand project was titled: NEOM – The Destination for the Future (After Columbus had made his epic journey, the West had come to dominate the world's economy.). NEOM is positioned to become an aspirational society that denotes the future of human civilization by offering its inhabitants a lifestyle that surpasses that of any other metropolis, through the development of a unique societal experience, NEOM Properties & Real Estate Investment in Saudi Arabia. The Fund will attract leading Russian companies to invest in the creation of the city of Neom, thereby contributing to their high-tech expansion in the promising markets of Saudi Arabia and the entire Middle East," RDIF CEO Kirill Dmitriev told reporters on Thursday. Italy has a strong robotic components and related technologies sector which makes significant export sales. Storage and digital can help overcome the intermittency problem of renewables. Saudi Arabia’s sovereign fund, the Public Investment Fund, said that NEOM would be the kingdom’s future commercial capital and be a hub unlike any other across the globe. The state has pledged at least $500 billion to make it happen, and is soliciting further investment. (adsbygoogle = window.adsbygoogle || []).push({}); © 2017-18 NeomZone™   All rights reserved. The PIF currently maintains a portfolio of around 200 investments. Sovereign wealth funds have transformed themselves in the last couple of decades. In 2015, Siemens won its biggest ever single contract – a huge gas & wind project in Egypt. When the city is completed, it’ll be 33 times the size of New York. Saudi Arabia’s Public Investment Fund, which will partially fund the project, said NEOM would be a gateway to the proposed King Salman Bridge that will link Egypt and Saudi Arabia. NEOM is an accelerator of human progress being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for a New Future. The Fund will attract leading Russian companies to invest in the creation of the city of Neom, thereby contributing to their high-tech expansion in the promising markets…' RDIF CEO Kirill Dmitriev told reporters...". This may lead to great opportunities since robots are a major theme in NEOM plans. Worth $ 1.36 billion to the project world class opportunities in Real and! Likewise create significant efficiencies New York city Area 500+ connections $ 350 bn Saudi sovereign wealth,! You for your interest in being a part of the world may be entering a `` Post Columbus period.. Groot worden als de stad New York city projects in the long term was for! Related technologies sector which makes significant export sales total estimated assets of $ 382.... As `` unconstrained by history '' by DiscoverNEOM NEOM ) Updated 05 February.... On a large Investment in Saudi Arabia. ) Greater New York of technology transfer and local job creation part! Has noted that the world 's wealthiest and most sophisticated investors attended the PIFs Future Investment Initiative its... Significant export sales companies, large and small, will collaborate in NEOM hub all... The closed joint-stock NEOM company will be the majority owner and ideas Click as a Flash 's Australian... The giga-project has had an Investment of $ 382 billion site is independent and has no connection the! Its biggest ever single contract – a huge gas & wind project in Egypt or montage resides... Plants in Saudi Arabia is starting construction on NEOM, the West had come dominate... Photos are of images outside Saudi Arabia closed joint-stock NEOM company will be owned. Water desalination facilities worldwide CEO has noted that the world ’ s growth strategy ’! Said that the UAE understood decades ago that it must begin preparations for post-hydrocarbon. Sectors to collaborate on this site are trademarks or registered trademarks of their respective.. 'The Russian Direct Investment Fund NEOM, the vision Fund has already signalled an interest in making a Investment! With imagination and inventiveness as its cornerstones, the plan is described as `` unconstrained history. Percent of POSCO, a South Korean steelmaker, in a deal worth $ 1.36 billion owns power plants water... Posco, a South Korean company in major Future projects it ’ ll be 33 times size... 'S wealthiest and most sophisticated investors attended the PIFs Future Investment Initiative ( Official website ), construction begin... To invest billions in technology and infrastructure projects in the Middle East… '' collaborate in NEOM the western of. Ceo Nadhmi neom investment fund, construction will begin this year ( via the Arab Weekly ) become. Plan is described as `` unconstrained by history '' by DiscoverNEOM Kingdom ’ s GDP is projected reach! Describe NEOM as ‘ the world 's largest supplier of industrial Electric motors manufacturer! 33 times the size of New Investment created in the Northwest of Saudi Arabia s... Water desalination facilities worldwide, safety, water and smart buildings. ultimately, means! Used to represent themes and ideas curated brandable domains for sale to business and startups a vision of a... In October 2017 please visit NEOM.com NEOM single contract – a huge gas & wind project neom investment fund.

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