Skip to content
Pursuits
Real Estate

Saudi Arabia to Begin Building Homes in $500 Billion Futuristic City Neom

  • First phase of residential development to be completed by 2020
  • Critics question whether kingdom will pull off the mega-city
It’s here that Saudi Arabia’s crown prince plans Neom, a city from scratch that will be bigger than Dubai and have more robots than humans.

It’s here that Saudi Arabia’s crown prince plans Neom, a city from scratch that will be bigger than Dubai and have more robots than humans.

Photographer: Glen Carey/Bloomberg

Saudi Arabia said it will start building the first residential area in a proposed $500 billion futuristic city that’s become a symbol of Crown Prince Mohammed bin Salman’s ambitions for life after oil.

The kingdom plans to start work on Neom Bay in the first quarter this year, according to the state-run Saudi Press Agency. The area will have “white beaches, a mild climate and an attractive investment environment,” SPA said. Phase 1 will be completed by 2020, according to the agency.