The city development committee headed by crown prince Mohammed bin Salman has approved the master plan for the first urban area NEOM Bay.
The project includes a housing system, tourist facilities and a creative development center. The development plan of this urban area will focus on luxurious lifestyle and include high-end hotels and villas to target regional and international customers.
Not only that, NEOM Bay will be equipped with new generation technologies, creating a smart urban ecosystem with advanced infrastructure.
It is known that the preparation and start of construction of this urban area will take place in the first quarter of this year. A series of key facilities are expected to be completed by the end of 2019 and phase one of NEOM Bay will be completed in 2020.
The NEOM project will also include other business urban areas, built annually, starting in 2020 and expected to be completed in 2025.
Nadhmi Al- nasr, - CEO of NEOM project - said that 2019 will be the pivotal year of the NEOM project development journey.
Saudi Arabia is ready for the development of the first NEOM Bay urban area, bringing a completely new standard of living with four main points: providing ideal living experiences for families; creating a destination to attract trendy and luxurious tourists; supporting development and innovation centers to achieve the long-term economic goals of the NEOM project.
Economic analysts believe that the launch of the first city NEOM Bay will bring great opportunities for Saudi Arabia, stimulate new growth momentum and realize the "2030 Vision" of this Gulf country to reduce dependence on oil.
