It aims to be one of the pillars of the Kingdom’s economic transformation. Making revolutionary biotech a reality. It will develop a smart transmission and distribution network with the latest and most advanced technologies. The ambition of the NEOM project is a strong impetus for many international companies to share Saudi Arabia in building the City of the Future. Through the creation of a global biotech innovation hub and ecosystem for rapid integration of the technologies into health practices, NEOM will be home to both aspirational and established biotech companies. The company will maintain an office in Riyadh to run the company’s business, collaborate with project partners — such as government agencies and private companies — and keep communication channels open with investors. The Kingdom will supervise NEOM via an Authority to be chaired by the Crown Prince. Major global companies and investors will be invited to participate. NEOM will become a strategic global hub connecting Arabia with the greatest endeavours of the world. The Kingdom hopes to receive widespread international support for this amazing opportunity. Thousands of companies, large and small, will collaborate in NEOM. Located on the Red Sea cost, Neom is a $500 billion investment and part of the Kingdom’s Vision 2030, which aims to attract foreign investment and create jobs in an effort to reduce the kingdom’s dependence on oil. Some companies, including Japan's Softbank, have said they are prepared to invest in NEOM, but major, concrete business investments have not yet been announced. NEOM will build a 100% renewable energy system and establish a world-class customer experience. Saudi Arabia’s Neom Bay Airport, part of the futuristic $500 billion Neom project, has achieved … Al-Tamimi Group and Saudi Arabian Trading & Construction Co (Satco) have been awarded a contract each to build and operate 'Construction Village' housing 30,000 workers from the team behind $500bn (SAR1.9tn) Saudi Arabian Neom futuristic super-city, the Public Investment Fund-backed (PIF) gigaproject launched at the Future Investment Initiative 2017 conference in Riyadh by … Tomorrow’s healthcare will start life here. Saudi Crown Prince Mohammed bin Salman announced at the end of October 2017 the plan to build the $ 500 billion NEOM project, which is located in the north-west of the kingdom and includes three countries: Saudi Arabia, Egypt and Jordan. The government's Center for International Communications and Neom’s management team has not yet officially revealed any further details about the contract awards. 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