NEOM
A USD 500 billion futuristic megacity and economic zone under development in northwest Saudi Arabia, designed as a testbed for advanced technology and sustainable living.
Definition
NEOM is a planned cross-sector economic zone and megacity spanning approximately 26,500 square kilometres in Tabuk Province, northwest Saudi Arabia, wholly owned by the Public Investment Fund and positioned as the flagship gigaproject of Vision 2030.
Overview
Announced in October 2017, NEOM takes its name from a combination of the Greek word “neo” (new) and the Arabic letter “M” representing mustaqbal (future). The project is located along the Red Sea coast near the Gulf of Aqaba, bordering Jordan and Egypt, and is envisioned as a zero-carbon city powered entirely by renewable energy. NEOM comprises several distinct sub-projects, each targeting a different aspect of future living, industry, and tourism.
The most prominent sub-project is THE LINE, a 170-kilometre-long linear city designed to house up to 9 million residents without cars, streets, or carbon emissions. Other components include Oxagon, a floating industrial city focused on advanced manufacturing and innovation; Trojena, a mountain tourism destination that will host the 2029 Asian Winter Games; and Sindalah, a luxury island resort in the Red Sea.
NEOM is governed by its own dedicated company, NEOM Co., which operates with a degree of regulatory autonomy including its own legal and tax frameworks. The project has attracted significant international attention — and scrutiny — for its unprecedented scale, technological ambitions, and the speed of its development timeline.
Key Facts
| Fact | Detail |
|---|---|
| Announced | October 2017 |
| Location | Tabuk Province, northwest Saudi Arabia |
| Area | ~26,500 km² |
| Estimated Investment | USD 500 billion+ |
| Owner | Public Investment Fund (PIF) |
| Sub-Projects | THE LINE, Oxagon, Trojena, Sindalah |
| Energy Target | 100% renewable energy |
| THE LINE Capacity | Up to 9 million residents |
| 2029 Asian Winter Games | Hosted at Trojena |
Role in Vision 2030
NEOM is the most high-profile expression of Vision 2030’s ambition to transform Saudi Arabia into a global innovation hub. The project aims to generate USD 48 billion in GDP contribution by 2030, create over 380,000 jobs, and demonstrate Saudi Arabia’s capacity to build entire new cities and industries from the ground up. It serves as a living laboratory for technologies including autonomous transport, vertical farming, drone logistics, and artificial intelligence-driven urban management.
The project also serves a critical soft-power function, projecting Saudi Arabia’s technological ambitions onto the global stage and attracting international talent and investment. However, NEOM’s sheer scale has raised questions about execution risk, timeline feasibility, and cost management — issues that are actively tracked by investors and analysts monitoring Vision 2030 delivery.