Saudi mega futuristic project Neom attracting foreigners


Foreigners keen to invest in Saudi Crown Prince MBS’s futuristic city, Neom. — Facebook/Neom
Foreigners keen to invest in Saudi Crown Prince MBS’s futuristic city, Neom. — Facebook/Neom

Saudi Crown Prince MBS’s dream project, ‘The Line’, is still a work in progress, but it has already caught the eye of many foreigners. They are not just watching from the sidelines; they are eager to call it home.

Global property consultancy Knight Frank’s inaugural Destination Saudi report reveals that nearly a third of expats based in Saudi Arabia are interested in buying a home in Neom, the trillion-dollar megacity that is the brainchild of the Crown Prince.

This futuristic project has emerged as the top choice for expats. Neom has surpassed several multi-billion-dollar projects like Jeddah Central and King Salman Park.

The survey interviewed 241 expatriates who have made Saudi Arabia their home for over a decade. A significant 42% of them expressed interest in ‘The Line’, a 170 km long, horizontal city within Neom. Sindalah, a seahorse-shaped island nearing completion, and Sharma Valley also piqued the interest of many.

Faisal Durrani, Head of Research at MENA, isn’t surprised. Faisal Durrani, Partner – Head of Research, MENA at Knight Frank, highlighted the appeal of Neom’s ultra-futuristic offerings, saying, “NEOM has consistently ranked as the most preferred location for Saudis eyeing up future home purchases in the Kingdom’s Giga projects, and it appears that expats too have been wooed by the planned ultra-futuristic offerings at the Belgium-sized US$ 500 billion super-city.”

Neom, with its ultra-futuristic offerings, seems to have done just that. ‘The Line’ promises a sustainable lifestyle with zero emissions.

With amenities within a five-minute walk and an efficient public transport system promising a 20-minute end-to-end journey, ‘The Line’ aims to redefine urban living. Moreover, the project is expected to generate over 380,000 jobs by 2030, further fueling interest among prospective residents.

The project will be powered entirely by renewable energy. Everything you need will be within a five-minute walk, and public transport will get you from one end to the other in just 20 minutes.

By 2030, this larger-than-life project is expected to create over 380,000 jobs.



Source link