Saudi Arabia will Build City of the Future Worth USD 500 Billion

World | October 30, 2017, Monday // 11:07|  views

The city of robots, renewable energy and its own laws must modernize the kingdom and its economy. Saudi crown prince Mohammad bin Salman presented a plan for the construction of a futuristic city that should help the kingdom become a country of the 21st century. The Prince has also promised that the state will profess a more tolerant form of Islam and become more open to religions and traditions from all over the world. So Saudi Arabia wants to diversify its economy and attract investors. The city, which was named Neom, will be located on the shores of the Red Sea, not far from the border with Jordan and Egypt. It is assumed that its area will exceed 25,000 square kilometers, and the value of the project is estimated at 500 billion dollars. It should be funded by the Saudi Arabian Public Investment Fund (PIF) and private investors. The project will be led by Klaus Kleinfeld, former Alcoa General Director, and formerly Siemens.

Neom must be distinguished not only from today's Saudi Arabia, but also from all other cities. The robots are predicted to be more than humans. They will be used in a variety of industries - from healthcare to safety. Cars will run on autopilot, and the city will be powered by electricity only from solar and wind power. Prince Mohamed admitted that it would not be easy to carry out this project.

"To dream is easy, but dreams come true is quite difficult." Neom will also have its own laws in place and be more friendly to business and foreigners. In the video that presents the project, there are women practicing yoga and ballerinas / in Saudi Arabia women have to wear clothes in public places that completely cover their body - from head to toe /.

The city is part of the ambitious Reform Plan "Vision 2030", which has to save the Saudi economy from oil dependency. According to the plan, PIF has to make large investments in the country and abroad at the expense of the funds received from the IPO of Saudi Aramco oil company. The Kingdom hopes to raise 100 billion dollars, selling 5% of the shares.

The project highlights Prince Mohammed bin Salman's desire to liberalize not only the economy but also Saudi society. In September, the Kingdom has already demonstrated this by repealing the ban on women driving cars. "We want to live a normal life that reflects our religious tolerance, our good customs and traditions in order to contribute to the development of the world and to the development of our society," the Prince said.

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Tags: Saudi Arabia, City, future, Mohammad bin Salman


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