Planning and construction will be initiated with $500 billion from the Public Investment Fund of Saudi Arabia and international investors. The first phase of the project is scheduled for completion by 2025.

What does Neom stand for?

NEOM is an acronym which means "New Future" and "New Enterprise Operating Model."

When was Neom announced?

Neom was announced in 2017 and is part of Saudi Arabia's Vision 2030 drive to diversify its economy and become less reliant on oil.